Five- and six-year rules extension for certain districts

SF 585 extends the timeframe for tax increment financing districts to spend revenue from tax increments on qualifying projects. Specifically, it changes the rule so that districts certified after June 30, 2025, and located outside metropolitan counties must now meet their spending requirements within ten years (instead of five), aligning with existing extensions for some older districts. This primarily affects local governments and developers in non-metro counties managing tax increment districts for housing or redevelopment projects. The bill modifies Minnesota Statutes 469.1763 to adjust the "five-year rule" and decertification timing for these districts.