Tax increment financing; use of unobligated increment clarified, and expiration extended.

HF 2006 extends the deadline for using unobligated tax increment financing (TIF) funds from 2022 to 2027 and clarifies how these funds can be used. It allows local development authorities to transfer unobligated TIF funds to support private development projects that create or retain jobs (with construction starting before December 31, 2025) or to make equity investments to make such projects financially feasible. Authorities must create a spending plan approved by the municipality after a public hearing, and all transferred funds must be spent or committed by December 31, 2027. The bill directly affects municipalities and development authorities managing TIF districts in Minnesota.