Tax increment financing; special rules authorized for Minnetonka.

HF 1065 extends timeframes for Minnetonka's Opus Tax Increment Financing (TIF) district. It extends the initial five-year period for using TIF funds to ten years and the period for using tax increments after that to eleven years, instead of the standard five and five years. The bill specifically applies to the Opus TIF district established in 2021 by Minnetonka's economic development authority and exempts it from certain standard TIF rules under Minnesota Statutes section 469.176, subdivision 4j. This change allows the district more time to use tax increment funds for its designated development projects.