The 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 applies to all allocating agencies for multifamily housing development. It mandates the publication of information regarding the rights and obligations of landlords and tenants, introduces a formula for determining grant amounts for rental assistance, and prioritizes households with children and lower incomes for such assistance. Additionally, the bill expands the definition of eligible buildings for sprinkler system grants to include those seven stories or more and modifies the funding structure for local housing trust funds.

Moreover, the bill allows housing and redevelopment authorities to create public corporations, which will have defined powers such as suing, entering contracts, and acquiring property. It expands the definition of "City" to include these public corporations and permits housing authorities to participate in limited partnerships and other entities for developing housing projects. The governance structure for these corporations is outlined, including the election of officers and compliance with open meeting laws, with assets reverting to the creating authority upon dissolution. 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