The bill proposes an appropriation of $100,000,000 from the bond proceeds fund to the Minnesota Housing Finance Agency, specifically for the purpose of financing the rehabilitation of public housing. This funding aims to preserve housing for low-income individuals and households that is federally financed and publicly owned. The agency is encouraged to prioritize proposals that leverage additional federal or local resources and focus on health, safety, and energy improvements. Notably, certain existing priorities and restrictions related to affordable housing supply do not apply to this appropriation.

To facilitate this funding, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $100,000,000, following the procedures outlined in Minnesota Statutes and the state constitution. The effective date of this section is set for the day following its final enactment.