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HF1746 (Legislative Session 94 (2025-2026))

Oakdale; special tax increment financing rules authorized.

Related bill: SF2083

AI Generated Summary

This bill, H.F. No. 1746, introduced in the Minnesota House of Representatives by Rep. Lillie, pertains to tax increment financing (TIF) in the City of Oakdale. It grants Oakdale a temporary extension for the use of certain TIF funds.

Key Provisions:

  1. Extended Authority to Use TIF Funds:

    • The City of Oakdale is allowed to spend, loan, or invest specific TIF funds until December 31, 2027.
    • These funds must have been collected from TIF District No. 14 or TIF District No. 16 in Oakdale.

  2. Requirement for a Written Spending Plan:

    • The use of these transferred funds must align with a written spending plan adopted by the city under Minnesota Statutes, section 469.176, subdivision 4n.

  3. Unspent Funds Must Be Returned:

    • If any of these funds remain unused after December 31, 2027, they must be returned to the respective TIF district.
    • This includes loan repayments, interest earnings, or other returns of the transferred increment.

Summary:

This bill allows Oakdale more time (until the end of 2027) to use specific TIF funds, ensuring the city's development plans can fully utilize these resources. However, any unspent funds must be returned to the original TIF district after the deadline.

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 02, 2025HouseFloorActionIntroduction and first reading, referred toTaxes
March 02, 2025HouseFloorActionIntroduction and first reading, referred toTaxes
March 02, 2025HouseFloorActionIntroduction and first reading, referred toTaxes

Citations

 
[
  {
    "analysis": {
      "added": [
        "Authorization for extended use of TIF funds by the city of Oakdale through December 31, 2027."
      ],
      "removed": [],
      "summary": "Provides authorization for the city of Oakdale to use transferred tax increment financing (TIF) funds.",
      "modified": []
    },
    "citation": "469.176",
    "subdivision": "4n"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Defines tax increment and its components with regard to financial management in TIF districts.",
      "modified": []
    },
    "citation": "469.174",
    "subdivision": "25"
  }
]

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