Bill > HF1489

This bill provides $100,000,000 in state bond funding specifically for rehabilitating public housing in Minnesota. The funds will be transferred from the bond proceeds fund to the Minnesota Housing Finance Agency's housing development fund, with the goal of preserving publicly owned low-income housing originally financed by the federal government. The agency is given flexibility to prioritize proposals that maximize additional federal or local resources and focus on health, safety, and energy improvements to housing units. Notably, the bill waives some typical priority requirements for affordable housing projects, allowing more targeted use of these rehabilitation funds. The commissioner of management and budget is authorized to sell and issue state bonds up to the $100,000,000 amount according to established state bonding procedures and constitutional guidelines. The bill becomes effective immediately after its final enactment, enabling prompt implementation of the public housing rehabilitation funding.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF1489&ssn=0&y=2025