This bill amends existing Minnesota housing laws to provide exceptions to income limits for certain workforce housing projects under the Minnesota housing tax credit contribution account grant and loan program. Specifically, it allows for grants or deferred loans to exceed the typical matching requirements if the funding is sourced from contributions intended for a specific project. Additionally, the bill expands the allowable use of funds to include workforce housing, while maintaining the focus on serving low and moderate-income families.

The bill also clarifies the definitions and restrictions regarding eligible recipients for grants and loans. It outlines criteria for disqualified individuals and businesses, ensuring that those who have made contributions to the housing tax credit account in the current or prior taxable year cannot benefit from these funds. Furthermore, it introduces a requirement for recipients to sign a disclosure confirming their eligibility, while also stating that the income limit requirement does not apply to projects that meet specific criteria outlined in the legislation.

Statutes affected:
Introduction: 462A.39, 462A.40