Bill > HF3350

This bill amends Minnesota law to limit rent increases in low-income rental projects that receive low-income housing tax credits. The rent in any rent-restricted unit in such a project may not increase in any 12-month period by a percentage greater than the percentage that Social Security or Supplemental Security Income benefits were increased in the preceding 12-month period, minus one percent, or zero percent, whichever is greater. This applies to projects that are restricted to seniors.