The bill amends existing legislation regarding the local sales and use tax in Hermantown, Minnesota, specifically extending the duration of the tax. The current termination date of the tax, previously set for December 31, 2036, is changed to December 31, 2046. This extension allows for continued funding for specified improvements and associated bond costs, with any remaining funds after project completion being allocated to the city's general fund.

Additionally, the bill includes a provision stating that the changes will take effect the day after final enactment without requiring local approval, as outlined in Minnesota Statutes, section 645.023, subdivision 1. This ensures a smooth transition into the new tax timeline and funding structure for the city of Hermantown.