The bill proposes new regulations regarding property taxation and tax increment financing in Minnesota, specifically addressing labor law violations by developers, contractors, or subcontractors involved in municipal projects. It introduces a new section in Minnesota Statutes, chapter 469, which allows municipalities to stop payments to developers or property owners if they find that labor laws have been violated. This process requires a public hearing with prior notice, where the municipality must provide details of the violation, including citations and supporting facts. Developers and property owners have the opportunity to file objections during this process.

Additionally, the bill outlines the legal recourse available to those found in violation of labor laws or those affected by the stoppage of payments. It allows for challenges in district court within 30 days of the municipality's finding or the payment stoppage, with the court required to rule in favor of the challenger if proper procedures were not followed or if the cited law was not violated. The prevailing party in such cases is entitled to recover costs, including attorney fees. The provisions of this bill will take effect the day after final enactment and will apply to all districts requesting certification thereafter.