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Committee advances temporary TIF extension for Mall of America waterpark and broader TIF flexibility bill
Summary
The House Tax Committee adopted an amendment and laid over House File 2,006, a bill to extend temporary pooled TIF spending flexibility, after testimony from labor, municipal and Mall of America representatives.
The tax committee considered House File 2,006 on April 9, a bill that would extend temporary flexibility for deposit and expenditure of pooled tax increment financing (TIF). Vice Chair Jess Joy moved the bill and the committee adopted an amendment (H200682) that requires an amended spending plan to access extended spending authority and clarifies treatment of interest on transferred increment.
Testimony emphasized local economic development uses and construction employment. Kyle Macarios of the…
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