Tax increment financing districts created for industrial, economic development, or affordable housing purposes after June 30, 2018

The provisions of subdivision 10-12-44(1) that require the county auditor to raise additional revenue from real property taxes for the general fund and special education fund of any school district located in a tax increment financing district and the provisions of § 13-13-10.8 , do not apply to any tax increment financing district created for industrial, economic development, or affordable housing purposes, as those terms are defined in § 13-13-10.10 . For purposes of this chapter, the assessed value of any real property in a tax increment financing district created for industrial, economic development, or affordable housing purposes is the tax increment base as defined in § 11-9-19 . This section applies to tax increment financing districts created after June 30, 2018. Source: SL 2018, ch 70 , § 3.