This bill authorizes housing and redevelopment authorities in Minnesota to create public corporations specifically for the purpose of purchasing, owning, and operating properties that have been converted under the federal Rental Assistance Demonstration (RAD) program. The bill amends several sections of the Minnesota Statutes, including provisions that clarify the obligations of public corporations, the definition of a "city," and the powers of housing and redevelopment authorities. Notably, it introduces new legal language that allows these authorities to form public corporations and outlines the powers and governance structure of such corporations, including the establishment of a board of directors and compliance with state laws.

Key amendments include the addition of section 469.0121, which details the creation and operation of public corporations under the RAD program, and the incorporation of provisions that ensure these corporations are treated as political subdivisions of the state. The bill also specifies that upon dissolution of a public corporation, its assets will revert to the authority that created it. The effective date for these changes is set for July 1, 2025.

Statutes affected:
Introduction: 15.082, 462A.202, 462C.02, 469.012