1.1 	A bill for an act
1.2 	relating to tax increment financing; prohibiting new
1.3 	tax increment financing districts or certain
1.4 	modifications of existing districts; proposing coding
1.5 	for new law in Minnesota Statutes, chapter 469.
1.6 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.7 	Section 1. [469.1795] TERMINATION OF TAX INCREMENT
1.8 	FINANCING AUTHORITY; ADDITIONAL ACTIVITY PROHIBITED.
1.9 	After May 31, 2005, notwithstanding any other law to the
1.10 	contrary, the following actions are prohibited:
1.11 	(1) certification of a new tax increment financing
1.12 	district; and 
1.13 	(2) modification of an existing tax increment financing
1.14 	plan to extend the duration of a district, expand the activities
1.15 	to be financed within the district, or incur additional expenses
1.16 	not included in the plan before May 31, 2005.

1.17 	EFFECTIVE DATE. This section is effective June 1, 2005.