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S.F. No. 2750, 4th Engrossment - 84th Legislative Session (2005-2006) Page 12 of 12 15.1 Sec. 22. REVISOR'S INSTRUCTION. 15.2 The revisor shall change the phrase "right of eminent domain" where found in 15.3 Minnesota Statutes and Minnesota Rules to "power of eminent domain " 15.4 Sec. 23. EFFECTIVE DATE. 15.5 This act is effective the day following final enactment and applies to condemnation 15.6 proceedings for which service of notice of the petition under Minnesota Statutes section 15.7 117.055 is made on or after that date except the act does not apply to an action by a 15.8 condemning authority if the action satisfies one of the following conditions: 15.9 (1) if the municipality, as that term is used in Minnesota Statutes section 469.174 15.10 subdivision 6 by the day following final enactment has approved a tax increment 15.11 financing plan under Minnesota Statutes section 469 175 before April 1 2006 and one 15.12 or more of the following conditions exists in connection with the tax increment financing 15.13 Ip an: 15.14 (i) the developer has acquired property by June 1.2006 in reliance on the 15.15 condemning authority's contractual obligation to condemn property or 15.16 (ii) the condemning authority has issued, sold or entered a binding agreement to 15.17 issue or sell bonds or other financial instruments to finance the costs of the tax increment 15.18 financing plan or district by June 1.2006: or 15.19 (2) creation of the tax increment financing district was authorized under a special 15.20 law that received local approval or became effective without local approval before April 1 15.21 2006, and the condemning authority commences the action within the later of 15.22 (i) five years after the municipality approved the tax increment financingplan~ or 15.23 (ii) the time period permitted under the special law for making expenditures to 15.24 comply with Minnesota Statutes. section 469 1763. subdivision 3 but not to exceed_a 15.25 ten-year period: or 15.26 ~) the condemning authority has commenced a condemnation action before June 1 15.27 2006 to complete land assembly for a project financed in whole or part with abatement_ 15.28 under Minnesota Statutes sections 469.1813 through 469 1815 and the abatement 15.29 resolution was adopted by one of the participating political subdivisions before A 15.30 1, 2006. 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 lJs page. General questions or comments. http://www.revisor.leg. state.mn.us/bin/bldbill.php?bill=52750.4.htm1&session=ls84&print=l 4/7/2006