Minnesota HF2006 clarifies the use of unobligated tax increment financing and extends its expiration.

Minnesota HF2006 amends tax increment financing rules by clarifying the use of unobligated increments and extending the expiration date. The bill allows the transfer of unobligated increments for private development, job creation, and equity investments. Municipalities must approve spending plans and hold public hearings. Increments not used by December 31, 2027, must be returned to the district. The authority to transfer increments expires on December 31, 2027.

Minnesota HF2006 clarifies the use of unobligated tax increment financing and extends its expiration.

Minnesota HF2006 amends tax increment financing rules by clarifying the use of unobligated increments and extending the expiration date. The bill allows the transfer of unobligated increments for private development, job creation, and equity investments. Municipalities must approve spending plans and hold public hearings. Increments not used by December 31, 2027, must be returned to the district. The authority to transfer increments expires on December 31, 2027.