This bill seeks to amend various housing policy provisions in Minnesota, focusing on eligibility and funding for housing programs, as well as the high-rise sprinkler system program. Key modifications include clarifying that financial assistance from the Minnesota Housing Finance Agency is applicable to multifamily housing developments and requiring the agency to publish information regarding the rights and obligations of landlords and tenants. The bill also introduces a formula for determining grant amounts for rental assistance program administrators and allows for the redistribution of unused funds to improve program efficiency, with an emphasis on prioritizing assistance for households with children and lower incomes. Additionally, it expands the definition of eligible buildings for sprinkler system grants to include those seven stories or taller and modifies the funding structure for local housing trust funds.

Furthermore, the bill authorizes housing and redevelopment authorities to create public corporations specifically for managing properties converted through the federal Rental Assistance Demonstration (RAD) program. It defines "City" to encompass various forms of local government and expands the definition of housing and redevelopment authorities to include these new public corporations. The legislation establishes a governance framework for these corporations, including a board of directors composed of commissioners from the creating authority, and outlines their powers, such as acquiring properties and entering contracts. Compliance with applicable laws is mandated, and upon dissolution, the corporation's assets will revert to the authority that created it. The effective date for these changes is set for July 1, 2025.

Statutes affected:
Introduction: 462A.051, 462A.2095, 462A.33, 462A.40, 477A.35, 477A.36
1st Engrossment: 462A.051, 462A.07, 462A.2095, 462A.33, 462A.37, 462A.39, 462A.40, 462C.16, 477A.35, 477A.36, 15.082, 462A.202, 462C.02, 469.012
2nd Engrossment: 462A.051, 462A.07, 462A.2095, 462A.33, 462A.37, 462C.16, 477A.35, 477A.36, 15.082, 462A.202, 462C.02, 469.012