Minnesota SF2337 clarifies the use of unobligated tax increment and extends its expiration date.

Minnesota SF2337 amends the state's tax increment financing law to allow municipalities to amend their spending plans to extend the date by which transferred increments may be used and to authorize the use of interest earned on transferred increments. This amendment requires a public hearing and filing of the amended plan with the state auditor. The bill also allows the treatment of interest earned on transferred increments the same as transferred increments, regardless of whether a municipality amends a spending plan.

Minnesota SF2337 clarifies the use of unobligated tax increment and extends its expiration date.

Minnesota SF2337 amends the state's tax increment financing law to allow municipalities to amend their spending plans to extend the date by which transferred increments may be used and to authorize the use of interest earned on transferred increments. This amendment requires a public hearing and filing of the amended plan with the state auditor. The bill also allows the treatment of interest earned on transferred increments the same as transferred increments, regardless of whether a municipality amends a spending plan.