SF63 (Legislative Session 94 (2025-2026))
Plymouth tax increment financing special rules authorization
Related bill: HF512
AI Generated Summary
SF No 63 is a proposed bill focused on tax increment financing specifically for the city of Plymouth, Minnesota. This bill allows Plymouth to create up to two redevelopment districts solely within a specified area called the city center district, as shown on the city's zoning map effective January 1, 2024.
The bill sets out special rules for these districts:
- Deemed Compliance: The districts are considered to meet certain existing legal requirements for tax increment financing districts.
- Exemptions: Certain statutory provisions will not apply to these districts.
- Extended Timing: The period for using tax increments is extended from the standard five years to ten years, with an additional year to use the increment post the initial period.
The authority for Plymouth to approve a tax increment financing plan under this bill will expire on December 31, 2031.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| January 15, 2025 | House | Floor | Action | Introduction and first reading | |
| January 15, 2025 | Senate | Floor | Action | Introduction and first reading | |
| January 15, 2025 | House | Floor | Action | Referred to | Taxes |
| January 15, 2025 | Senate | Floor | Action | Referred to | Taxes |
| January 29, 2025 | House | Floor | Action | Author added | |
| January 29, 2025 | Senate | Floor | Action | Author added |
Citations
[
{
"analysis": {
"added": [],
"removed": [],
"summary": "This bill deems certain tax increment financing districts to meet requirements under section 469.174.",
"modified": []
},
"citation": "469.174",
"subdivision": "subdivision 10"
},
{
"analysis": {
"added": [],
"removed": [
"Removed applicability of subdivision 4j for specific districts."
],
"summary": "This bill sets special rules that override the applicability of section 469.176, subdivision 4j, to certain tax increment financing districts.",
"modified": []
},
"citation": "469.176",
"subdivision": "subdivision 4j"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "The bill extends the five-year rule under section 469.1763, subdivision 3, for certain finance districts.",
"modified": [
"Extended five-year period to ten years."
]
},
"citation": "469.1763",
"subdivision": "subdivision 3"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "This bill extends the duration for the use of tax increments under section 469.1763, subdivision 4.",
"modified": [
"Extended use of increment period from five years to eleven years."
]
},
"citation": "469.1763",
"subdivision": "subdivision 4"
}
]