The bill amends Minnesota Statutes 2022, section 462C.16, subdivision 1, to allow housing and redevelopment authorities to establish local housing trust funds. This change introduces the definition of "housing and redevelopment authority" as a type of local government that can create these funds, which are designed to support housing initiatives through dedicated public revenue sources.

The bill defines key terms related to housing trust funds, including "local housing trust fund" and "regional housing trust fund," emphasizing their establishment by local governments and joint powers agreements, respectively. This legislative change aims to enhance the capacity of local entities to address housing needs by providing them with the authority to create and manage dedicated funding sources.

Statutes affected:
Introduction: 462C.16