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Bill > SF2659


MN SF2659

Housing and redevelopment authorities creation of public corporations for the purpose of purchasing, owning, and operating properties converted under the federal Rental Assistance Demonstration program authorization provision and Corporations reception of certain funding through the Minnesota Housing Finance Agency authorization provision


summary

Introduced
03/17/2025
In Committee
03/17/2025
Crossed Over
Passed
Dead

Introduced Session

94th Legislature 2025-2026

Bill Summary

A bill for an act relating to housing; authorizing housing and redevelopment authorities to create public corporations for the purpose of purchasing, owning, and operating properties converted under the federal Rental Assistance Demonstration program; permitting corporations of authorities to receive certain funding through the Minnesota Housing Finance Agency; amending Minnesota Statutes 2024, sections 15.082; 462A.202, subdivision 3a; 462C.02, subdivision 6; 469.012, subdivision 2j; proposing coding for new law in Minnesota Statutes, chapter 469.

AI Summary

This bill creates a new legal framework for housing and redevelopment authorities to establish public corporations specifically for purchasing, owning, and operating properties converted through the federal Rental Assistance Demonstration (RAD) program. The legislation allows these newly created public corporations to have specific powers, including the ability to enter into contracts, accept federal or state funding, acquire real property, and operate with a board of directors composed of the commissioners of the originating housing authority. The bill defines the corporations as political subdivisions with limited powers, establishes governance requirements such as adopting bylaws, maintaining a business office in their creating city, and being subject to open meeting and data practices laws. The corporations can receive funding through the Minnesota Housing Finance Agency and are designed to help preserve and improve public housing properties. Key provisions include allowing the corporations to sue and be sued, accept gifts and bequests, hire staff, and enter into cooperative agreements. When dissolved, the corporation's assets will revert to the originating housing authority. The bill is set to become effective on July 1, 2025, and amends several existing statutes to accommodate these new public corporations.

Committee Categories

Government Affairs

Sponsors (2)

Last Action

Referred to State and Local Government (on 03/17/2025)

bill text


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