This bill amends Minnesota Statutes 2024, section 462A.40, subdivision 2, to expand the allowable uses of funds in the Minnesota housing tax credit contribution account. Specifically, it allows for the funding of supportive services in existing supportive housing, as defined in section 462A.37, subdivision 1, paragraph (k). This addition aims to enhance the support provided to individuals and families in need of housing assistance.

In addition to the new provision for supportive services, the bill maintains the existing framework for the use of funds, which includes various activities such as gap financing, new construction, acquisition, rehabilitation, and demolition of structures. The agency is also empowered to prioritize grant and loan proposals that incorporate regulatory changes or waivers leading to cost savings, thereby promoting more efficient housing development.

Statutes affected:
Introduction: 462A.40