Bill > SF3721

This bill requires that the agency responsible for administering down payment assistance for first-generation homebuyers, which refers to individuals whose parents did not own a home, develop specific forms and procedures for applications and verification. Applicants will need to sign an affidavit confirming they meet the eligibility requirements and acknowledging penalties for fraud or perjury, and they will be responsible for providing documentation to prove their eligibility, though the agency may assist them in obtaining these documents. The agency, or any community organization it partners with to distribute the assistance, must verify an applicant's eligibility before providing any down payment assistance. Additionally, the bill mandates that the agency conduct and report on a financial audit of the first-generation homebuyers down payment assistance fund each year that funds are disbursed.

Housing and Urban Affairs

https://www.revisor.mn.gov/bills/94/2026/0/SF/3721/