This bill authorizes the issuance of housing infrastructure bonds in Minnesota, allowing the agency to issue up to $400,000,000 in one or more series, with payments pledged under the relevant section. The bill amends Minnesota Statutes 2024, section 462A.37, by adding a new subdivision (Subd. 2k) that outlines this additional authorization. Furthermore, it specifies that the new provisions will take effect the day following final enactment.

Additionally, the bill modifies subdivision 5 of the same statute to include a new provision (Subd. 2k) that mandates the commissioner of management and budget to transfer certified amounts for debt service on the newly authorized bonds, similar to existing provisions for other subdivisions. This ensures that the necessary funds are appropriated from the general fund to support the housing infrastructure bond account, thereby enhancing the state's capacity to address housing needs through infrastructure investment.

Statutes affected:
Introduction: 462A.37