Unobligated tax increment use clarification

This bill clarifies how local governments can use unobligated tax increment financing (TIF) funds in Minnesota. It allows TIF authorities to transfer unused TIF funds to support private development projects that create or retain jobs (with construction starting before December 31, 2025), or to make equity investments to make such projects financially feasible. Authorities must create a written spending plan approved by the municipality after a public hearing, and all transferred funds must be spent or committed by December 31, 2027. The bill directly affects local governments managing TIF districts by extending the deadline for using these funds and clarifying permitted uses. It does not change existing TIF bond obligations but provides clearer rules for handling unobligated increments.