INFORMATION #2 EDSR 03-13-2006 - Laserfiche WebLink

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H.F. No. 2895, as introduced - 84th Legislative Session (2005-2006) Page 8 of 8 12 .19 (d) to carry out a program to remedy or improve a blighted area• or 12 .20 (e) to facilitate development of housing for low or moderate income person 12 12 .21 .22 _ defined under any federal, state or local program. Subd. 3. 8conomic development. The public benefits of economic develoF 12 .23 including an increase in tax base tax revenues employment or general ec 12 .24 shall not by themselves constitute a public purpose except as provided in 12 .25 Subd. 4. Exceptions. Notwithstanding any other provision of law, a con 12 .26 authority under this chapter may condemn property if one or more of the fc 12 12 .27 .28 of financial assistance are present: (1) a grant awarded by a state agency for_ economic development related pun 12. 29 a single business receives $200 000 or more of the grant proceeds; 12. 30 (2) a grant award to local units of government or development authorities 12. 12. 31 32 sections 116J.551, 116J.559, 116J.571, and 116J.8731; (3) a loan or the guaranty or purchase of a loan made by a state agency fc 12. 33 development related purposes if a single business re ceives $500,000 or mox 12. 13. 34 1 __ _ proceeds; (4) a reduction, credit, or abatement of a tax assessed under chapter 297P 13. 2 where the tax reduction, credit, or abatement applies to a geographic area 13. 3 entire state and was granted for economic development related purposes; ox 13. 4 (5) an appropriation by the legislature to acquire or better property, in 13. 5 mart, with the proceeds of state general obligation bonds authorized to be 13. 6 article XI, section 5, clause (a) of the Minnesota Constitution. 13. 7 Financial assistance does not include payments by the state o f aids and cz 13. 13. 8 9 __ __ chapter 273 or 477A to a political subdivision. Subd. 5. Disclosure. All applicants must indicate on applications for 13. 10 assistance under subdivision 4 whether the use of eminent domain may be ne 13. 11 _ acquire property for the project. _ 13 13 .12 .13 Sec. 16. EFFECTIVE DATE. Sections 1 to 6 and 10 and 11 are effective for condemnation proceedings t 13. 14 are commenced on or after August 1 2006 Sections 7 8 and 9 are effecti 13. 15 acquisitions in which the initial notice of eligibility is iven on or aft 13. 16 2006. Sections 12 to 15 apply to any property that is included in a redeye 13. 13. 13. 17 18 19 established on or after August 1 Sec. 17. SUNSET. Sections 14 and 15 expire January 2006. 1 2009. Please direct all comments concerning issues or legislation to your House Member or State Senator. For Legislative Staff or for directions to the Capitol, visit the Contact_Us page. General ouestions or comments, http://www.revisor.legstate.mn.us/bin/bldbill.php?bill=H2895.0.htm1&session=1s84 3/9/2006