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� <br />� <br />� <br />� <br />� <br />� <br />� <br />� <br />� <br />� <br />� <br />� <br />� <br />� <br />� <br />� <br />� <br />l <br />� <br />Appendix A <br />��aatora Betzold, PoQsmiller, Moua, Bakk aad Lim�asr introducsd- <br />S.F. No. 2998: Referred to the Committee on Taxes. <br />;.] A bill for an act <br />�.� relating to tax increment financing; authorizing <br />�_3 authorities to establish an urban renewal area; <br />�,� amending Minnesota Statutes 2002, sections 469.174, by <br />�.4 adding a subdivision; 469.176, by adding a subdivision. <br />1_d BE IT ENACTED BY THE LEGISLATURE OF THE STA'I`E OF MINNESOTA: <br />x_� Section 1. Minnesota Statutes 2002, section 469.174, is <br />k.� amended by adding a subdivision to read: <br />x,� Subd. 30. [URBAN RENE[nTAL AREA.] ^Urban renewal area" means <br />x.ia a contiguous geographic area designated within a pro�ect and <br />x.il within which all parcels must be eligible for inclusion in a <br />l.Y� redevelopment, renewal and renovation, or soils condition <br />x,1; district or are currently located within a redevelopment, <br />�,1� renewal and renovation, or soils condition district certified <br />i,�� within ten years of the date of approval of the urban renewal <br />�.5� area. Redevelopment, renewal and renovation, or soils condition <br />1.37 districts created within the urban renewal area must be <br />1.16 established within ten ears from the latter of the cit or <br />l,i� county approva o t e ur an renewa area. <br />�,�p ���rvE D�.�t*3 ,) This section is effective for urban <br />�,�� renewal areas established on or after the date of final <br />;.�2 enactment. <br />].�� Sec. 2. Minnesota Statutes 2002, section 469.176, is <br />1.�� amended by adding a subdivision to read: <br />1.�� Subd. 8. [URBAN RENEwAL AREA.] (a) An authority may create <br />� � an urban renewal area only upon the notice and after the <br />�_1 discussion, ublic hearin , and findin s re ired for a roval <br />3.� o t e ori ina ro ect. In a ition, t e aut orit must o tain <br />�.� written approva rom t e county in w ic t e ur an renewa area <br />�_5 is to be located. After approval by the city and county, the <br />3,� auTit�l�i y t e commissioner o revenue o t e <br />�.�r approved urban renewal area. <br />�.� (bl All provisions of sections 469.174 throuah 469.1799 <br />�.9 apply except: <br />�.1L� (1) the five-year rule under section 469.1763, subdivision <br />�.11 3, is extended to ten years; <br />�.1� (2) the limitation on spendina increment outside of the <br />�.13 district under section 469.1763 subdivision 2 does not a 1 <br />�.id ut increments ma on e e en e on i rovements or <br />�,1� activities wit in t e ur an renewa area; an <br />�.�G (3) the local tax rate certification required under section <br />�_ii 469.177, subdivision la, does not apply. <br />�,i� t3.'�c�t`r�r� Dx�.] This section is effective for urban <br />�.1� renewal areas established on or after the date of final <br />�,�� enactment. <br />SPRINGSTED R�B 29 <br />