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HF2889 (Legislative Session 94 (2025-2026))

Duration of the Hermantown local sales and use tax extended.

Related bill: SF3017

AI Generated Summary

Purpose of the Bill

The purpose of this bill is to extend the deadline of the Hermantown local sales and use tax. This extension will allow the city to continue collecting taxes to fund local projects.

Main Provisions

  • The bill modifies the existing law related to the Hermantown local sales and use tax.
  • It extends the termination date of the tax collection from December 31, 2036, to December 31, 2046.

Significant Changes

  • The bill makes a significant change by pushing the termination date of the local sales and use tax forward by ten years. This will give Hermantown more time to collect enough funds to cover project costs, including repayment of bonds and any associated financial costs.

Relevant Terms

local sales and use tax, Hermantown, termination date, municipal funding, bond repayment

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 26, 2025HouseFloorActionIntroduction and first reading, referred toTaxes

Citations

 
[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "The bill extends the duration of the Hermantown local sales and use tax authorized under Laws 1996 chapter 471 article 2 section 29.",
      "modified": [
        "Extends the termination date of the local sales and use tax from December 31, 2036, to December 31, 2046."
      ]
    },
    "citation": "471",
    "subdivision": "article 2 section 29"
  }
]

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