Bill > HF1548

This bill modifies existing Minnesota law to expand the definition of local governments that can establish housing trust funds by explicitly including housing and redevelopment authorities alongside cities and counties. A housing trust fund is a dedicated financial mechanism created by a local government with specific public revenue sources intended to support housing initiatives. By amending the definitions in section 462C.16, the bill clarifies that housing and redevelopment authorities can now create local housing trust funds, which can have one or more dedicated public revenue streams specifically designated for housing-related purposes. This change potentially gives housing and redevelopment authorities an additional tool to address local housing needs by establishing a targeted funding mechanism. The bill does not fundamentally alter the core concept of housing trust funds but rather broadens the range of local entities empowered to create such funds.

Housing and Urban Affairs

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF1548&ssn=0&y=2025