This bill amends Minnesota Statutes 2024, section 462C.16, subdivision 1, to authorize housing and redevelopment authorities to establish local housing trust funds. The bill introduces new definitions, including "local government," which now encompasses housing and redevelopment authorities, thereby expanding the scope of entities that can create local housing trust funds.

Additionally, the bill clarifies the definitions of "fund," "local housing trust fund," and "regional housing trust fund," ensuring that these terms are well-defined within the context of housing finance. The establishment of local housing trust funds aims to provide dedicated sources of public revenue for housing initiatives, thereby enhancing local governments' ability to address housing needs in their communities.

Statutes affected:
Introduction: 462C.16