Minnesota HF2035 proposes special tax increment financing rules for the Ford Site Redevelopment in St. Paul.

Minnesota HF2035 amends the Ford Site Redevelopment Tax Increment Financing District in St. Paul. It allows the city to waive receipt of tax increment for the first four years from taxes payable in 2023. If the city chooses to waive the increment, the five-year period for using the increment is extended to ten years, and the period for using increment after the five-year period is extended to eleven years. The bill also adjusts the certification date for applying limits based on when the district was certified.

Minnesota HF2035 proposes special tax increment financing rules for the Ford Site Redevelopment in St. Paul.

Minnesota HF2035 amends the Ford Site Redevelopment Tax Increment Financing District in St. Paul. It allows the city to waive receipt of tax increment for the first four years from taxes payable in 2023. If the city chooses to waive the increment, the five-year period for using the increment is extended to ten years, and the period for using increment after the five-year period is extended to eleven years. The bill also adjusts the certification date for applying limits based on when the district was certified.