The bill, H.F. No. 1863, seeks to modify the property tax levy limits for Housing and Redevelopment Authorities (HRAs) in Minnesota. It amends Minnesota Statutes 2024, section 469.033, subdivision 6, which governs the taxation authority of HRAs.

Key changes in the bill include:

1. Increase in Levy Limit: The bill proposes raising the maximum allowable levy from 0.0185% to 0.037% of estimated market value for taxable properties within the taxing district.

2. Taxing Mechanism: The bill maintains that an HRA may levy a special benefit tax on taxable properties within its jurisdiction, with the approval of the city governing body. The tax will be collected alongside general state, county, and municipal taxes and will be placed into a separate fund known as the housing and redevelopment project fund.

3. Use of Funds: Money collected from this special tax must be used solely for purposes outlined in sections 469.001 to 469.047 of Minnesota statutes, which cover housing and redevelopment activities.

4. Budget Process: The bill requires HRAs to file an annual budget following city budgeting procedures. If the city does not require budget filings, the HRA must submit its budget by August 1. The tax levy amount for the subsequent year will be based on this budget.

5. Notice Requirement: The bill also applies notification requirements outlined in section 275.067 to any HRA that has not previously certified a levy.

In summary, the bill aims to provide HRAs with greater financial capacity by increasing their maximum levy limit, ensuring sufficient funding for housing and redevelopment projects in Minnesota cities.