This bill authorizes the city of Marshall to implement special rules regarding tax increment financing (TIF) that deviate from existing state statutes. Specifically, it allows the city to spend, loan, or invest transferred increment from TIF Districts No. 1-1, No. 1-7, and No. 2-1 until December 31, 2027, despite the restrictions outlined in Minnesota Statutes, section 469.176, subdivision 4n, paragraph (f). The use of these funds must be detailed in a written spending plan adopted by the city. Additionally, any increment that is not utilized by the deadline must be returned to the district, including any associated proceeds, principal, interest, or investment earnings.

The bill also establishes an effective date contingent upon the compliance of the city of Marshall's governing body and its chief clerical officer with specific requirements set forth in Minnesota Statutes, section 645.021, subdivisions 2 and 3. This provision ensures that the new rules will be implemented promptly following the necessary administrative actions.