This bill authorizes the issuance of housing infrastructure bonds in Minnesota, allowing the agency to issue up to $400,000,000 in bonds, in addition to previously authorized amounts. The new subdivision added to Minnesota Statutes 2024, section 462A.37, specifically outlines this additional authorization and states that payments under this section may be pledged to these bonds. The effective date for this new provision is the day following final enactment.

Furthermore, the bill amends subdivision 5 of the same statute to include provisions for the transfer of funds to the housing infrastructure bond account for bonds issued under the new subdivision 2k. This includes annual transfers certified by the commissioner of management and budget, with specific limits on the amounts that can be transferred. The effective date for these amendments is also the day following final enactment.

Statutes affected:
Introduction: 462A.37