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HF3029 (Legislative Session 94 (2025-2026))

St. Cloud; special tax increment financing authority provided.

Related bill: SF2860

AI Generated Summary

Purpose of the Bill

The purpose of this bill is to grant the city of St. Cloud, Minnesota, special tax increment financing (TIF) authority. This is aimed at facilitating redevelopment within specified areas of the city.

Main Provisions

  • Establishment of Redevelopment Districts: The city of St. Cloud's economic development authority, or the city itself, is permitted to establish up to two redevelopment districts. These districts must be near the Division Street corridor or within the Central Business District or Fringe Central District. Specific parcels of land in Stearns County and Benton County are identified for potential development.
  • Special Rules for TIF Districts:
    • The districts are automatically considered to meet certain statutory requirements normally needed for TIF districts.
    • Certain statutory restrictions on TIF districts do not apply here, allowing for more flexibility.
    • Tax increments generated can be used for various public infrastructure projects, such as the construction or expansion of public utilities, streets, and parking facilities necessary for the development.

Significant Changes to Existing Law

The bill allows deviations from standard Minnesota statutes regarding the creation and management of TIF districts, specifically permitting certain expenditures typically restricted under usual regulations. This provides St. Cloud with enhanced tools to direct resources toward redevelopment projects.

Relevant Terms

  • Tax Increment Financing (TIF)
  • Redevelopment Districts
  • Public Infrastructure
  • Economic Development Authority
  • Central Business District

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 31, 2025HouseFloorActionIntroduction and first reading, referred toTaxes

Citations

 
[
  {
    "analysis": {
      "added": [
        "Special conditions for the establishment of redevelopment districts."
      ],
      "removed": [
        ""
      ],
      "summary": "The bill references the requirements for redevelopment districts as outlined in section 469.174, subdivision 10.",
      "modified": [
        "Clarifies the applicability of certain statutory requirements for these districts."
      ]
    },
    "citation": "469.174",
    "subdivision": "subdivision 10"
  },
  {
    "analysis": {
      "added": [
        "Special exemptions for tax increment financing districts in St. Cloud."
      ],
      "removed": [
        "Exclusion of subdivision 4j applicability."
      ],
      "summary": "The bill specifies that section 469.176, subdivision 4j does not apply to certain tax increment financing districts.",
      "modified": [
        ""
      ]
    },
    "citation": "469.176",
    "subdivision": "subdivision 4j"
  },
  {
    "analysis": {
      "added": [
        "Increments spent on public infrastructure are deemed expended within the district."
      ],
      "removed": [
        ""
      ],
      "summary": "The bill addresses expenditure rules under Minnesota Statutes section 469.1763.",
      "modified": [
        ""
      ]
    },
    "citation": "469.1763",
    "subdivision": ""
  }
]

Sponsors