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S.F. No. 2064 - City of Shoreview; Tax Increment Financing; Duration Extension
 
Author: Senator Beverly Scalze
 
Prepared By: Eric S. Silvia, Senate Counsel (651/296-1771)
 
Date: March 12, 2014



 

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.

 

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