This bill amends existing legislation regarding the local sales tax authority of the city of St. Paul. Specifically, it extends the expiration date of the city's authority to impose a sales tax from December 31, 2042, to December 31, 2060. The bill also clarifies that any remaining funds after the completion of approved projects and the retirement of bonds may be allocated to the city's general fund. Additionally, it outlines the conditions under which the tax imposed under subdivision 1a may expire, either after 20 years or when the city council determines that sufficient revenue has been generated to cover project costs.

Furthermore, the bill includes a new effective date provision, stating that the changes will take effect the day after the governing body of the city of St. Paul and its chief clerical officer fulfill the requirements set forth in Minnesota Statutes, section 645.021, subdivisions 2 and 3. This ensures that the legislative changes are properly enacted and recognized by the city's governing bodies.