This bill authorizes the city of Marshall to implement special rules regarding tax increment financing (TIF) that deviate from existing state statutes. Specifically, it allows the city to spend, loan, or invest transferred increment from TIF Districts No. 1-1, No. 1-7, and No. 2-1 until December 31, 2027. This provision is made possible despite the restrictions outlined in Minnesota Statutes, section 469.176, subdivision 4n, paragraph (f). The city must detail the use of the transferred increment in a written spending plan that complies with the relevant state statutes.

Additionally, any increment that is not utilized by the deadline of December 31, 2027, must be returned to the district, including any associated proceeds, principal, interest from loans, or investment earnings. The bill also stipulates that it will take effect once the governing body of the city of Marshall and its chief clerical officer fulfill the requirements set forth in Minnesota Statutes, section 645.021, subdivisions 2 and 3.