The bill amends Minnesota Statutes 2024, section 462C.16, subdivision 1, to authorize housing and redevelopment authorities to establish local housing trust funds. This amendment expands the definition of "local government" to include housing and redevelopment authorities, thereby enabling these entities to create and manage local housing trust funds.

Additionally, the bill defines "local housing trust fund" as a fund established by a local government that has dedicated sources of public revenue for housing, and "regional housing trust fund" as a fund created under a joint powers agreement between two or more local governments with similar dedicated revenue sources. These changes aim to enhance the capacity of local governments and housing authorities to address housing needs through the establishment of trust funds.

Statutes affected:
Introduction: 462C.16