Bill > SF2434

This bill modifies provisions related to the Minnesota Housing Development Fund and the Minnesota Housing Finance Agency's expenditure capabilities. Specifically, the bill changes how money can be transferred into and used from the housing development fund, clarifying that funds can be transferred rather than just appropriated, and allowing earnings from investments to be used for program costs before distribution. The bill updates language around creating separate bookkeeping accounts for specific purposes, allows more flexibility in transferring unencumbered balances between different housing program accounts, and ensures that appropriations from the housing development fund remain available until fully expended. Additionally, the bill repeals four specific subdivisions of existing law related to capacity building grants, agency discretionary purposes, rental housing programs, and full cycle home ownership services, effectively eliminating these specific spending authorizations. These changes are intended to provide the Minnesota Housing Finance Agency with more administrative flexibility in managing housing development funds and streamlining its operational procedures.

Housing and Urban Affairs

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2434&ssn=0&y=2025