HomeMy WebLinkAbout1989-08-04 MN Dept of Trade & Economic Development Ltr to Local Authorities �CEIVED AUG 2 1 1989
community Development Division
900 American Center-
150 East Kellogg Boulevard
St. Paul, MN 55101 -1421
612/296 -5005
Fax: 612/296 -1290
August 4, 1989
TO: Local Authorities izing Tax Increment Financing
FROM: Robert F. Benn /
Deputy Com�mi psi r
SUBJECT: Tax Increment Financing /State Reporting Requirements
The 1988 State Legislature amended the Tax Increment Financing Statute; Section
469.175, Subdivisions 2 and 5 relating to the submission of tax increment
financing documents to the State of Minnesota. This change took effect on
July 1, 1989.
Prior to this 1988 Amendment, local authorities utilizing tax increment
financing were required to file copi of the ta x increment financing plan and
develo p p with the Department of Trade and Economic Development following
local approval and adoption. Minnesota Statutes, Section 469.175, Subdivision
2, as amended, now require local authorities to submit these documents to the
D epartment of Reven
Also prior to the 1988 Amendment, local authorities were required to submit a
c of the Annual - Fiscal Disclosure
Rpon „to the Department of Trade and
Economic Development. M nnesota Statutes, Section 469.175, Subdivision 5, as
amended, now requires this document to be submitted to the Department of
Rev_
The mailing address for the submission of the above - mentioned documents is shown
below:
Department of Revenue
Local Government Services Division
Mail Station 3340
St. Paul, MN 55146 -3340
ATTN: Jerome Silkey
If you have any particular question regarding these reporting requirements,
please call the Department of Revenue at 612/296 -0256.
BENNER /175 -1 .
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