The bill amends existing legislation regarding the local sales tax authority of the city of St. Paul, specifically extending the expiration date of this authority. The current law states that the city's ability to impose a sales tax will expire on December 31, 2042, but this bill changes the expiration date to December 31, 2060. Additionally, it 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.

Furthermore, the bill includes a provision that specifies the effective date of this amendment, stating that it 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 extension of the sales tax authority is formally recognized and implemented following the proper procedural steps.