This bill amends Minnesota Statutes 2024, section 469.033, subdivision 6, to modify the levy limits for housing and redevelopment authorities. Specifically, it increases the maximum allowable tax levy from 0.0185 to 0.037 of the estimated market value of taxable property within the authority's operation area. This change allows authorities greater flexibility in generating revenue for housing and redevelopment projects, as they can now levy a higher tax rate on properties deemed to benefit from these projects.

Additionally, the bill maintains the existing framework for how these taxes are collected and managed. The taxes will continue to be included with general state, county, and municipal taxes, collected by the county auditor, and deposited into a designated "housing and redevelopment project fund." The funds will be used exclusively for purposes outlined in sections 469.001 to 469.047, ensuring that the revenue generated is directed towards supporting housing and redevelopment initiatives within the community.

Statutes affected:
Introduction: 469.033