1.1 	A bill for an act
1.2 	relating to taxation; extending the duration of an
1.3 	economic development tax increment financing district
1.4 	in the city of Brooklyn Park; amending Laws 1994,
1.5 	chapter 587, article 9, section 20, subdivisions 1, 2;
1.6 	repealing Laws 1994, chapter 587, article 9, section
1.7 	20, subdivision 4.
1.8 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.9 	Section 1. Laws 1994, chapter 587, article 9, section 20,
1.10 	subdivision 1, is amended to read:
1.11 		Subdivision 1.Establishment. The city of Brooklyn Park
1.12 	may establish an economic development tax increment financing
1.13 	district in which 15 percent all of the revenue generated from
1.14 	tax increment in any year that is not expended pursuant to a
1.15 	pledge given or encumbrance created before January 1, 2005,is
1.16 	deposited in the housing development account of the authority
1.17 	and expended according to the tax increment financing plan.

1.18 	Sec. 2. Laws 1994, chapter 587, article 9, section 20,
1.19 	subdivision 2, is amended to read:
1.20 		Subd. 2.Eligible activities. The authority must
1.21 	identify in the plan the housing activities that will be
1.22 	assisted by the housing development account.  Housing activities
1.23 	may include rehabilitation, acquisition, demolition, and
1.24 	financing of new or existing single family or multifamily
1.25 	housing.  Housing activities listed in the plan need not be
1.26 	located within the district or project area but must be
2.1 	activities that meet the requirements of a qualified housing
2.2 	district under Minnesota Statutes, section 273.1399 or 469.1761,
2.3 	subdivision 2, for owner-occupied housing or 469.174,
2.4 	subdivision 29, clause (1), for rental housing.

2.5 	Sec. 3. CITY OF BROOKLYN PARK TAX INCREMENT FINANCING
2.6 	DISTRICT EXTENSION.
 2.7 	Notwithstanding Minnesota Statutes, section 469.176,
2.8 	subdivision 1b, or any other law to the contrary, the duration
2.9 	limit that applies to the economic development tax increment
2.10 	financing district established under Laws 1994, chapter 587,
2.11 	article 9, section 20, is extended to December 31, 2020.

2.12 	Sec. 4. REPEALER.
 2.13 	Laws 1994, chapter 587, article 9, section 20, subdivision
2.14 	4, is repealed.