This bill authorizes special rules for the Cooper Avenue Redevelopment Tax Increment Financing District in the city of St. Cloud, extending certain deadlines related to tax increment financing activities. Specifically, it extends the requirement for activities to be undertaken from five years to a total of ten years, with a new deadline set for April 30, 2031. Additionally, the bill extends the timeline for demolition, rehabilitation, or renovation of property from four years to eight years, with a new deadline of April 30, 2030.

The bill's provisions will take effect once the governing body of the city of St. Cloud and its chief clerical officer fulfill the necessary compliance requirements outlined in Minnesota Statutes. These extensions aim to provide the city with additional time to complete redevelopment activities, thereby supporting local economic growth and revitalization efforts.