This bill authorizes the city of Brooklyn Center to establish up to two redevelopment tax increment financing (TIF) districts within a designated area known as the "Opportunity Site." The boundaries of this area are defined by specific roadways, including Shingle Creek Parkway and marked Trunk Highway 100. The bill outlines special rules that apply to these TIF districts, stating that they will be considered to meet all requirements of existing Minnesota statutes, while also exempting them from certain provisions that typically govern TIF districts.

Additionally, the bill sets a deadline for the approval of tax increment financing plans, stating that the authority to establish these districts will expire on December 31, 2031. The effective date of this legislation will take effect once the governing body of Brooklyn Center and its chief clerical officer fulfill the necessary compliance requirements as outlined in Minnesota statutes.