Hopkins; tax increment financing special rules authorized.

This bill authorizes the city of Hopkins to extend the timeframes for using tax increment financing funds from 5 to 10 years and from 5 to 11 years for a specific district. It directly affects the city of Hopkins by allowing it to retain revenue generated by property value increases within Tax Increment Financing District 1-6 for a longer period. The key provision modifies existing state statutes to permit these extended timelines, with the changes taking effect after the city completes required administrative steps. This legislation does not create new funding but adjusts how long the city can use existing tax increment financing rules for one specific district.