Minnesota § 469.042 AGREEMENT ON TAX INCREMENTS; EQUIVALENTS

Minnesota Statutes

§ 469.042 — AGREEMENT ON TAX INCREMENTS; EQUIVALENTS

Minnesota § 469.042

PartLOCAL ECONOMIC DEVELOPMENT

Ch. 469ECONOMIC DEVELOPMENT

This text of Minnesota § 469.042 (AGREEMENT ON TAX INCREMENTS; EQUIVALENTS) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 469.042 (2026).

Text

Subdivision 1.General.
Any city or other state public body within the limits of which a project of an authority is wholly or partially located may agree with the authority with respect to payment by the authority of sums in lieu of taxes for any year or period of years in accordance with the provisions of section469.040, but for no longer than the period of tax exemption provided for under that section. If property owned by the authority in a redevelopment project area is leased or otherwise made available by the authority to a private individual, firm, or corporation which previously owned the same or other property within the area, not for development in connection with the project but for temporary use pending relocation of the former owner's residence or business, the authority may ag

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Subdivision 1.General.
Any city or other state public body within the limits of which a project of an authority is wholly or partially located may agree with the authority with respect to payment by the authority of sums in lieu of taxes for any year or period of years in accordance with the provisions of section469.040, but for no longer than the period of tax exemption provided for under that section. If property owned by the authority in a redevelopment project area is leased or otherwise made available by the authority to a private individual, firm, or corporation which previously owned the same or other property within the area, not for development in connection with the project but for temporary use pending relocation of the former owner's residence or business, the authority may agree to payment of sums in lieu of taxes for any year or period of temporary use. The payments shall not exceed the amount of the annual rentals or other payments it receives for the use. During the use the property and the authority shall be exempt from all taxes and special assessments as provided in section469.040, and the provisions of section272.01, subdivision 2and of section273.19shall not apply to the property or to that use. In connection with any redevelopment project, an authority may make further agreements respecting taxes as provided below.

Subd. 2.
MS 2011 Supp [Repealed,2012 c 294 art 2 s 43]

Subd. 3.
MS 2011 Supp [Repealed,2012 c 294 art 2 s 43]

Subd. 4.
MS 2011 Supp [Repealed,2012 c 294 art 2 s 43]