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Senate Counsel, Research and Fiscal Analysis
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Minnesota Senate Bldg.
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95 University Avenue W. Suite 3300
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St. Paul, MN 55155
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(651) 296-4791
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Alexis C. Stangl
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Director
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Senate
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State of Minnesota
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S.F. No. 2064 - City of Shoreview; Tax Increment Financing; Duration Extension
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Author:
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Senator Beverly Scalze
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Prepared By:
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Eric S. Silvia, Senate Counsel (651/296-1771)
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Date:
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March 12, 2014
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S.F. 2064 authorizes a 15 year duration extension for Tax Increment Financing District No. 1 in the city of Shoreview. The district is a pre-1990 district having been certified in 1988. Under current law, the district must decertify on December 31, 2014. This bill provides for an additional 15 years through December 2028. Pre-1990 tax increment financing districts are not subject to the pooling limitations that those districts certified post-1990 are subject to.
Effective upon compliance by the governing bodies of Shoreview, Ramsey County, and Independent School District No. 621 with local approval and filing requirements.
ESS/tg
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Check on the status of this bill
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Last review or update: 03/12/2014
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