This bill modifies certain provisions related to the housing development fund under the Minnesota Housing Finance Agency. It amends sections of Minnesota Statutes 2024, specifically sections 462A.20 and 462A.21, to clarify the sources of funding and the management of appropriated funds. Notably, the bill changes the language regarding the transfer of funds into the housing development fund, replacing "appropriated" with "transferred into." It also allows for the establishment of separate bookkeeping accounts for tracking the receipt and disbursement of funds, and it specifies that earnings from investments can be used for the same purposes as the original appropriations.

Additionally, the bill repeals several subdivisions of section 462A.21, which previously allowed for capacity building grants and other expenditures not specifically appropriated. The repealed subdivisions included provisions for grants to nonprofit organizations and local governments to enhance their capacity for providing affordable housing, as well as other agency purposes and rental housing programs. The changes aim to streamline the funding process and clarify the allowable uses of the housing development fund, while also ensuring that unencumbered balances can be transferred between programs as needed.

Statutes affected:
Introduction: 462A.20, 462A.21