1.1                          A bill for an act 
  1.2             relating to tax increment financing; changing certain 
  1.3             provisions as they apply to the city of Medford. 
  1.4   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.5      Section 1.  [CITY OF MEDFORD; ECONOMIC DEVELOPMENT 
  1.6   DISTRICT.] 
  1.7      Notwithstanding any other law to the contrary, the city of 
  1.8   Medford may use revenues derived from tax increment from an 
  1.9   economic development district located within the city to provide 
  1.10  assistance to one or more separately owned commercial 
  1.11  facilities, each consisting of 30,000 square feet or less.  
  1.12  Except as otherwise provided in this section, the revenues 
  1.13  derived from increments must be spent as required under 
  1.14  Minnesota Statutes, section 469.176, section 4c. 
  1.15     Sec. 2.  [EFFECTIVE DATE; APPLICABILITY.] 
  1.16     Section 1 is effective upon compliance with the 
  1.17  requirements of Minnesota Statutes, section 645.021, subdivision 
  1.18  3, and applies to requests for certification of tax increment 
  1.19  financing districts or additions of new area to tax increment 
  1.20  financing districts after the day of final enactment.