Hopkins special tax increment financing rules authorization

This bill authorizes special tax increment financing rules for the city of Hopkins, specifically extending the time period for using funds from a designated development district. It changes the existing law by allowing the city to use tax increment revenue from District 1-6 (325 Blake) for ten years instead of five, and permits continued use of those funds for eleven years after the initial five-year period ends. The changes become effective only after the city government completes specific administrative requirements with the state. This legislation directly affects the city of Hopkins and its ability to finance local development projects through this specific financing mechanism.