This bill appropriates $20,000,000 from the bond proceeds fund to the Minnesota Housing Finance Agency for the Greater Minnesota Housing Infrastructure grant program, as outlined in Minnesota Statutes, section 462A.395. The funds are intended to support housing development initiatives in Greater Minnesota. To facilitate this appropriation, the commissioner of management and budget is authorized to sell and issue state bonds up to the same amount, following the procedures established in Minnesota Statutes, sections 16A.631 to 16A.675, and in accordance with the Minnesota Constitution.

The new legal language introduced in this bill includes provisions for the issuance of general obligation bonds and the specific appropriation of funds for the housing program. Additionally, the bill specifies that it will take effect the day after it is enacted. This legislative action aims to enhance housing infrastructure and development in Greater Minnesota, addressing the need for improved housing options in the region.