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CHAPTER 13 - ECONOMIC DEVELOPMENT AND SPECIAL PROGRAMS <br />County Auditor Checklist <br />This checklist is a part of the Minnesota State Auditor's Tax Increment Financing County Guide. It <br />highlights some of the most important things that a county must do with regard to administering a TIF <br />district, <br />Approval <br />O 30 days before municipality's approval of TIF plan - county and school boards receive <br />information regarding plan and invitation to comment (boards may waive notice period) <br />O 45 days after receiving TIF plan - deadline for county to notify TIF authority of request for <br />reimbursement for county road costs <br />Certification <br />O Certification request received on or before June 30 recognized for determining local tax rates <br />for current and subsequent levy years <br />O Certification request received after June 30 recognized for determining local tax rates for <br />subsequent levy years <br />O Original net tax capacity of TIF district must be adjusted to reflect building permits issued within <br />18 months preceding approval of TIF plan <br />O If applicable, assessment agreement reviewed and approved <br />Management <br />O County may require TIF authority to reimburse county for expenses related to county <br />administration of TIF district <br />O Three-year rule — if no qualifying activity within three years after district certification, district <br />must be decertified <br />❑ Four-year rule — if authority does not provide evidence of qualifying work undertaken on a <br />parcel within four years of certification, original net tax capacity of that parcel must be excluded <br />from the TIF district <br />O Percentage of tax increment (.36%) must be deducted before increment is paid to TIF authority <br />and sent to the state treasurer <br />TAX INCREMENT FINANCING 13.01 • 15 <br />REVISION DATE: NOVEMBER, 2010 <br />