Authorizes special tax increment financing rules for the city of Minneapolis.

The bill authorizes special rules for tax increment financing districts in Minneapolis, allowing the housing and redevelopment authority to establish up to three districts. Special rules include the ability to use tax increment financing to clear buildings for open space or public parks if at least 50% of buildings require substantial renovation. The authority to request certification of districts expires June 30, 2030, unless at least one district has been requested by that date.

Authorizes special tax increment financing rules for the city of Minneapolis.

The bill authorizes special rules for tax increment financing districts in Minneapolis, allowing the housing and redevelopment authority to establish up to three districts. Special rules include the ability to use tax increment financing to clear buildings for open space or public parks if at least 50% of buildings require substantial renovation. The authority to request certification of districts expires June 30, 2030, unless at least one district has been requested by that date.