SF2083 (Legislative Session 94 (2025-2026))
Oakdale tax increment financing special rules authorization
Related bill: HF1746
AI Generated Summary
This bill authorizes the city of Oakdale, Minnesota, to temporarily use tax increment financing (TIF) funds under special rules. Specifically, Oakdale may spend, loan, or invest tax increment funds collected from TIF District No. 14 or TIF District No. 16 through December 31, 2027, as long as the use aligns with the city's written spending plan.
Any funds that are not spent, loaned, or invested by December 31, 2027, must be returned to the respective TIF district. This includes loan repayments, principal and interest received on loans, interest earnings, and any other returns of transferred increments that remain in the city's accounts or are received after the deadline.
Bill text versions
- Introduction PDF file
Past committee meetings
- Taxes on: March 26, 2025 09:00
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| March 03, 2025 | Senate | Floor | Action | Introduction and first reading | |
| March 03, 2025 | Senate | Floor | Action | Referred to | Taxes |
| Senate | Note | Action | See |
Citations
[
{
"analysis": {
"added": [
"Allows Oakdale to extend the period for spending, loaning, or investing transferred increment until December 31, 2027."
],
"removed": [
""
],
"summary": "The bill authorizes the city of Oakdale to use tax increment financing with special rules under Minnesota Statutes section 469.176.",
"modified": [
""
]
},
"citation": "469.176",
"subdivision": "subdivision 4n"
},
{
"analysis": {
"added": [
""
],
"removed": [
""
],
"summary": "This statute is referenced in the definition of tax increment within the context of the legislative bill.",
"modified": [
""
]
},
"citation": "469.174",
"subdivision": "subdivision 25"
}
]Progress through the legislative process
In Committee