Bill > HF1141

This bill authorizes the Minnesota Housing Finance Agency to issue an additional $400,000,000 in housing infrastructure bonds (HIBs), expanding the agency's existing bond authorization. The bill modifies the state's existing statutes to create a new subdivision (2k) that allows for this additional bond issuance. The bonds will be subject to an annual debt service certification process, where the agency must report the actual annual debt service amount to the commissioner of management and budget. Starting in July 2027 and continuing through 2048, the commissioner will transfer the certified debt service amount from the general fund to the housing infrastructure bond account, not to exceed the certified amount. These transfers are automatically appropriated from the general fund, which provides a dedicated funding mechanism for repaying the bonds. The purpose of these housing infrastructure bonds is typically to finance affordable housing development, preservation, and related infrastructure projects in Minnesota, though the specific details of the bond usage are not explicitly outlined in this bill text. The bill becomes effective the day after its final enactment.

Housing and Urban Affairs

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF1141&ssn=0&y=2025