The bill aims to enhance housing finance and assistance in Minnesota by appropriating funds to the Minnesota Housing Finance Agency and implementing various policy and technical changes. It introduces new funding for programs such as the family homeless prevention and assistance program, grants for the Minnesota homeless study, and the housing affordability preservation investment program. The bill also authorizes the issuance of housing infrastructure bonds, allowing the agency to issue up to $50 million in additional bonds for supportive and affordable rental housing projects. Notably, it repeals a previous law related to housing infrastructure, signaling a shift in policy direction. The bill increases the maximum grant amount for counties from $30,000 to $40,000 and introduces a new grant program for the preservation of naturally occurring affordable housing.

Additionally, the bill amends several sections of the Minnesota Statutes to focus on energy decarbonization and climate resilience, expanding eligibility for agency programs to households receiving income-based public assistance and federally recognized Indian Tribes in Minnesota. It mandates that proceeds from insured loans be used for improvements that enhance energy efficiency and climate resilience. The bill also requires the commissioner of the Minnesota Housing Finance Agency to collaborate with the commissioner of human services to establish criteria for measuring the timeliness of rental assistance application processing and to simplify verification procedures for applications. Overall, the bill seeks to improve housing availability, affordability, and sustainability while enhancing transparency and accountability in housing finance initiatives.

Statutes affected:
Introduction: 462A.37
1st Engrossment: 462A.02, 462A.05, 462A.07, 462A.21, 462A.35, 462A.37, 462A.40, 469.012