This bill amends existing tax increment financing (TIF) regulations specifically for the city of Maple Grove, Minnesota. It introduces special rules that allow the city to establish various types of TIF districts, including redevelopment, renewal and renovation, soil condition, and soil deficiency districts. The bill defines the project area for these districts and outlines the conditions under which the city can designate parcels as part of a soil deficiency district, which includes criteria related to unusual terrain or soil deficiencies. Notably, the bill extends the duration for which tax increments can be collected from eight years to thirteen years and limits the expenditure of tax increments to no more than 40% on activities outside the city.

Additionally, the bill allows for the collection of increments from 25% of the first increment from soil deficiency districts and specifies that these increments can only be used for acquiring parcels, correcting soil deficiencies, and covering administrative expenses. It also permits the use of increments for improvements to the Highway 169 and County Road 130 interchange, despite previous restrictions. The bill will take effect once the governing body of Maple Grove and its chief clerical officer comply with the necessary statutory requirements.