The bill amends existing legislation regarding the local sales tax authority for the city of St. Paul, specifically extending the expiration date of this authority from December 31, 2042, to December 31, 2060. This change allows the city to continue imposing the sales tax for a longer period, as determined by the city through an ordinance. Additionally, the bill clarifies that any remaining funds after the completion of approved projects and the retirement of related bonds may be allocated to the city's general fund.

Furthermore, the bill includes a provision that specifies the effective date of the new section, which will take effect the day after the governing body of the city of St. Paul and its chief clerical officer fulfill the requirements outlined in Minnesota Statutes, section 645.021, subdivisions 2 and 3. This ensures that the changes to the sales tax authority are implemented in accordance with state law.