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Bill > HF2480


MN HF2480

Housing; public corporations authorized relating to properties converted under the federal Rental Assistance Demonstration program, and funding authorized through the MHFA.


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 allows housing and redevelopment authorities to create public corporations specifically for purchasing, owning, and operating properties that have been converted through the federal Rental Assistance Demonstration (RAD) program. The bill establishes a comprehensive framework for these public corporations, detailing their powers, governance, and operational guidelines. Under the new provisions, these corporations can sue and be sued, accept gifts and bequests, enter into contracts, hire employees, and acquire real property. The corporation's board of directors will consist of the commissioners of the creating authority, who will serve without compensation but can receive expense reimbursements. The corporations are subject to open meeting laws, government data practices regulations, and must comply with federal, state, and local laws regarding rental assistance properties. The bill also clarifies that upon dissolution, the corporation's assets will become property of the creating authority. The Minnesota Housing Finance Agency is authorized to provide funding for these corporations, and the effective date for these provisions is July 1, 2025. This legislation aims to provide a structured approach for housing authorities to preserve and improve public housing properties through the RAD program.

Committee Categories

Housing and Urban Affairs

Sponsors (5)

Last Action

Author added Kraft (on 04/21/2025)

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