HF2053

HF2053 (Legislative Session 94 (2025-2026))

Tax increment financing; special rules authorized for the city of Moorhead.

Related bill: SF1994

AI Generated Summary

This bill relates to taxation and tax increment financing (TIF) in the state of Minnesota. Specifically, it grants the city of Moorhead a special extension for TIF District No. 31. The bill extends the usual five-year rule under Minnesota law to ten years and allows the use of tax increments for an additional 11 years instead of the standard limitation. This extension gives Moorhead more time to utilize TIF funds for development and infrastructure improvements within the designated district.

Bill text versions

Introduction PDF file

Actions

Date	Chamber	Where	Type	Name	Committee Name
March 09, 2025	House	Floor	Action	Introduction and first reading, referred to	Taxes
March 09, 2025	House	Floor	Action	Introduction and first reading, referred to	Taxes

Citations

[
  {
    "analysis": {
      "added": [
        "Extension of the five-year rule to ten years."
      ],
      "removed": [
        ""
      ],
      "summary": "The bill extends the five-year rule for the city of Moorhead's Tax Increment Financing District No. 31.",
      "modified": [
        "Extension of the five-year period related to the use of increment to 11 years."
      ]
    },
    "citation": "469.1763",
    "subdivision": "subdivision 3"
  },
  {
    "analysis": {
      "added": [
        "Extension of the use of increment period after the five-year period."
      ],
      "removed": [
        ""
      ],
      "summary": "This section concerns the use of increment after the five-year period, extending it to 11 years for Moorhead.",
      "modified": [
        "Adjustment of the period from the five-year rule to 11 years."
      ]
    },
    "citation": "469.1763",
    "subdivision": "subdivision 4"
  }
]