The bill amends existing legislation regarding the local sales and use tax in Hermantown, Minnesota, specifically extending the duration of the tax. The current law, which originally set the termination date for the tax at December 31, 2036, is revised to extend this date to December 31, 2046. This change allows for the continued collection of funds necessary to cover costs associated with specified improvements and the retirement of bonds related to the tax.

Additionally, the bill includes a provision stating that it will take effect the day after final enactment without requiring local approval, as outlined in Minnesota Statutes, section 645.023, subdivision 1. This provision ensures a smooth transition into the new tax timeline and allows the city to manage its finances effectively in relation to the improvements funded by the tax.