Bill > SF2880

This bill makes several modifications to local government debt financing regulations in Minnesota, primarily focused on reducing the required public notice period from 14 to 10 days for various hearings and applications related to municipal bonds and debt issuance. The bill updates provisions related to county and municipal bonds for capital improvements, allowing more flexibility in how local governments can finance projects like jails, law enforcement facilities, courthouses, and infrastructure improvements. Key changes include expanding the definition of debt obligations to include justice centers connected to jails, modifying the timelines for bond allocation and issuance, and clarifying procedures for public hearings and potential voter petitions. For residential rental and other qualified bonds, the bill introduces new deadlines that allow issuers to permanently issue bonds by either 180 days from allocation or the last business day of December, providing more consistent timing for bond issuance. The bill also adjusts the requirements for obtaining bond allocations, simplifies application processes for certain government agencies like the Minnesota Housing Finance Agency, and updates provisions related to county facility construction funding, making it easier for local governments to finance public infrastructure and development projects.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2880&ssn=0&y=2025