The bill aims to enhance housing stability and affordability in Minnesota through various initiatives, including the issuance of housing infrastructure bonds and the establishment of a working group and task force to oversee these efforts. It allocates $59,255,000 to the Minnesota Housing Finance Agency (HFA) for programs focused on housing affordability and family homelessness prevention. Significant amendments include updated language on energy conservation to prioritize decarbonization and climate resilience, as well as new definitions for "distressed building" and "recapitalization" to better target assistance. The bill also expands loan purposes to include climate resiliency projects and introduces provisions for responsible contracting practices, ensuring accountability in housing development.

Additionally, the bill modifies existing housing finance laws to broaden eligibility for grants and loans, allowing a wider range of entities to participate in housing projects. It establishes a public corporation for managing properties converted through the federal Rental Assistance Demonstration program and mandates annual reporting from tier I cities and counties on unspent funds. New provisions are included to prevent discrimination against tenants using rental assistance programs, and a working group will study common interest communities and homeowners associations to recommend legislative reforms. Overall, the bill seeks to improve the effectiveness of housing finance initiatives while addressing environmental concerns and promoting fair housing practices.

Statutes affected:
Introduction: 462A.37
1st Engrossment: 15.082, 462A.02, 462A.03, 462A.05, 462A.07, 462A.202, 462A.21, 462A.222, 462A.35, 462A.37, 462A.40, 462C.02, 469.012