This bill modifies the authority related to the Hennepin County local sales and use tax by amending several sections of the Minnesota Statutes. Key insertions include the designation of the authority as a qualifying government for long-term equity investments, allowing the county to make grants for health care facilities, and establishing a reserve fund for capital improvements to the ballpark. The bill also introduces new provisions for capital improvement grants, allowing the county to grant up to $9 million annually for such expenditures. Additionally, it specifies that the county may issue revenue bonds to finance costs associated with both the ballpark and county-owned health care facilities.

The bill also makes several deletions, including the removal of specific annual grant limits for capital improvement reserves and the previous cap on the amount the county may grant for ballpark costs. It clarifies the use of tax revenues, ensuring they can be allocated for various purposes, including operating costs and youth activities. The effective date for these changes is set for the day following final enactment. Overall, the bill aims to enhance funding mechanisms for both sports and health care infrastructure in Hennepin County.

Statutes affected:
Introduction: 473.756, 473.757, 473.759