The bill aims to enhance housing access and affordability in Minnesota through a series of appropriations and new programs. It establishes a budget for the Minnesota Housing Finance Agency, including specific allocations for various housing initiatives such as a one-time appropriation of $10 million for Urban Homeworks to support affordable homeownership in Minneapolis and another $10 million for federally recognized American Indian Tribes for housing purposes. The legislation emphasizes addressing disparities in homeownership rates among communities of color and indigenous populations, requiring demographic data collection from applicants. Additionally, it introduces a pilot program for municipalities to receive grants for infrastructure costs related to new housing developments, as well as a housing mediation grant program to support renters and property owners.

Moreover, the bill amends existing statutes to improve housing support initiatives, particularly for vulnerable populations. It introduces new funding mechanisms, allowing the Minnesota Housing Finance Agency to issue up to $250 million in housing infrastructure bonds and refund existing bonds without previous limitations. The legislation also establishes a housing cost reduction incentive program to reimburse cities for fee waivers for qualified housing developments, and it creates a supportive housing program for individuals and families at risk of homelessness. Other key provisions include a first-generation homebuyers down payment assistance fund, a high-rise sprinkler system grant program for fire safety, and a Manufactured Home Lending Grants Program to support services related to manufactured homes. Overall, the bill seeks to address the housing crisis by increasing affordable housing options and promoting community stability and safety.

Statutes affected:
Introduction: 462A.201, 462A.204, 462A.21
1st Engrossment: 462A.05, 462A.2035, 462A.204, 462A.201, 462A.21, 462A.22, 462A.36, 462A.37, 462A.38, 462A.39
2nd Engrossment: 462A.05, 462A.2035, 462A.204, 462A.201, 462A.21, 462A.22, 462A.36, 462A.37, 462A.38, 462A.39
2nd Engrossment: 462A.05, 462A.2035, 462A.204, 462A.201, 462A.21, 462A.22, 462A.36, 462A.37, 462A.38, 462A.39
1st Engrossment: 462A.05, 462A.2035, 462A.204, 462A.201, 462A.21, 462A.22, 462A.36, 462A.37, 462A.38, 462A.39