This bill establishes special tax increment financing (TIF) authority for the city of Brooklyn Center, allowing its economic development authority to create one or more redevelopment TIF districts within a designated area known as the "Opportunity Site." The boundaries of this site are defined by specific roadways, including Shingle Creek Parkway and marked Trunk Highway 100, along with internal and adjacent roads. The bill outlines special rules for these districts, stating that they will meet the requirements of existing Minnesota statutes while exempting them from certain provisions that typically apply to TIF districts.

Additionally, the bill specifies that any increment generated from these districts can be used for activities within the defined area, and such expenditures will be considered as being made within the district for statutory purposes. The authority to approve a TIF plan under this section will expire on December 31, 2030. The provisions of this bill will take effect once the governing body of Brooklyn Center and its chief clerical officer fulfill the necessary statutory requirements.