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S.F. No. 1463 - City of Eagan; Temporary Tax Increment Financing Authority
 
Author: Senator Jim Carlson
 
Prepared By: Eric S. Silvia, Senate Counsel (651/296-1771)
 
Date: March 25, 2013



 

S.F. 1463 authorizes the city of Eagan to spend tax increment from existing TIF districts to assist in developing the former Lockheed property at 3333 Pilot Knob Road.  To qualify, construction must begin by June 30, 2015. The authority provided under this section expires on June 30, 2016.

This bill mirrors a provision in the 2010 jobs bill that allowed tax increment from existing TIF districts to be spent on private construction. That authority expired on December 31, 2012.

 
Check on the status of this bill
 
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