Minnesota HF3166 requires school district approval for establishing economic development districts.

Minnesota HF3166 amends the state's tax increment financing laws to require approval from the governing board of each school district within the proposed district area. This approval must be granted by resolution before a county auditor can certify the district's original net tax capacity. The bill also mandates that municipalities make specific findings and provide written reasons and supporting facts for their approval of the tax increment financing plan.

Minnesota HF3166 requires school district approval for establishing economic development districts.

Minnesota HF3166 amends the state's tax increment financing laws to require approval from the governing board of each school district within the proposed district area. This approval must be granted by resolution before a county auditor can certify the district's original net tax capacity. The bill also mandates that municipalities make specific findings and provide written reasons and supporting facts for their approval of the tax increment financing plan.