This bill authorizes the issuance of housing infrastructure bonds to finance a grant for Face to Face Health and Counseling Services, Inc. Specifically, it allows the agency to issue up to $8,000,000 in bonds, which will be used to design and construct a facility providing 20 units of affordable housing with support services for young people aged 18 to 24 in St. Paul. The bill amends Minnesota Statutes 2024, section 462A.37, by adding a new subdivision (2k) that outlines this additional authorization and specifies the use of the bond proceeds.

Furthermore, the bill modifies subdivision 5 of the same statute to include provisions for the annual transfer of funds to the housing infrastructure bond account for the newly authorized bonds. It establishes that beginning in 2027 and continuing through 2048, the commissioner of management and budget must transfer certified amounts related to the new subdivision (2k) to the bond account, ensuring that the necessary funds are appropriated from the general fund. The effective date for these changes is set for the day following final enactment.

Statutes affected:
Introduction: 462A.37