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Senate Counsel, Research
and Fiscal Analysis
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G-17 State Capitol
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75 Rev. Dr. Martin Luther King Jr. Blvd.
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St. Paul, MN 55155-1606
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(651) 296-4791
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Fax: (651) 296-7747
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Tom Bottern
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Director
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Senate
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State of Minnesota
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S.F. No. 2149 - City of Canby; Creation of TIF District
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Author:
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Senator Gary W. Kubly and Gary H. Dahms
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Prepared By:
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Eric S. Silvia, Senate Counsel (651/296-1771)
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Date:
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March 6, 2012
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This bill allows the city of Canby to create a tax increment financing district. The district’s original tax capacity is set at zero and the district’s duration is limited to the lessor of: (1) 20 years after receipt of the first increment; or (2) one year after the city has received $175,000. The city may use the increment to pay for payment of principal and interest on bonds issued for tax increment financing district No. 1-21.
This bill is effective the day following final enactment without local approval.
ESS:dv
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Check on the status of this bill
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Back to Senate Counsel and Research Bill Summaries page
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This page is maintained by the Office of Senate Counsel, Research, and Fiscal Analysis for the Minnesota Senate.
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Last review or update: 03/06/2012
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