Bill > SF2742

This bill establishes several new requirements and provisions related to affordable housing in Minnesota. The Minnesota Housing Finance Agency will now be required to submit an annual report by January 5th detailing the financial stability of the affordable housing industry, including operating expense-to-revenue ratios and rent collection percentages across four distinct geographic regions of the state. The bill also mandates that the agency convene an annual meeting with the Interagency Council to End Homelessness and local housing aid recipients to discuss housing aid impacts, regional needs, and collaborative strategies for addressing housing insecurity. Additionally, the bill limits the commitment terms for low-income tax credit projects to the compliance period specified in federal tax code and requires the agency to develop a policy framework for stabilizing affordable rental housing, including identifying regulatory relief strategies for housing providers. The commissioner must report on this framework by January 5, 2026, and may convene regular meetings with public funders and housing stakeholders to seek preservation and stabilization solutions. The bill also includes provisions for transferring funds from the general fund to the housing development fund and appropriates money for developing the targeted stabilization policy framework.

Housing and Urban Affairs

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2742&ssn=0&y=2025