Laserfiche WebLink
183 Universfty Ave. Ea ' st may 9. 1988 <br />St. Paul, MN ;515101-2526 <br />(612) 2217-5600 TAX:221 -0986) <br />- NNNNW� <br />TAX INCREMENT FINANCING <br />A Summary of Changes Made by the 1988 Legislature <br />The 19818 Omnibus Tax Bill contains a number of provisions that will <br />I <br />restrict c i ties use of tax increment f in,anc ling (TIF) Although some <br />4 01 <br />of' these restrictions are quite s ignii f 110cant the League was <br />successful in, defeating several harmful measures that would have <br />tightened the tax increment lawi even more severely. <br />0 <br />Next year the TIF law will face a more 'maior challenge. The Senate <br />author', Senator Ember Reichgotti (DFL-New Hope) has stated that she <br />61 4 a <br />inteinds, to develop far-reaching TIF legislation for the 1989 <br />a <br />legislative sie,ssi,on,. Some of the issues under consideration include <br />* en <br />volume caps,, restrictions on pooling pro,3ec,.-.-P,, the Obut-forO test, <br />and county veto authority,, <br />0 <br />Soilis Condiltion District <br />A <br />