This bill amends existing tax increment financing (TIF) laws specifically for the city of Maplewood, allowing for special rules regarding the establishment and operation of redevelopment tax increment districts. It designates a specific parcel, referred to as the "3M Renovation and Retention Project Area," as eligible for inclusion in a redevelopment TIF district, exempting it from certain qualifying requirements and the 90 percent rule typically applied under Minnesota law. Additionally, the bill extends the timeframe for expenditures within the project area from five to ten years and specifies the geographic boundaries for eligible expenditures.

Furthermore, the bill stipulates that if no property development activities commence within one year of the original net tax capacity certification, the parcel will no longer contribute to the tax increment district's capacity. It also includes provisions for the authority to certify the commencement of development activities to the county auditor. The authority to approve TIF plans and establish districts under this legislation will expire on December 31, 2018. The bill will take effect once the city of Maplewood complies with specific statutory requirements.