The bill amends various sections of the Minnesota Statutes related to local government debt financing and public financing. Key changes include modifications to the election requirements for issuing bonds by counties and municipalities. Specifically, the bill reduces the notice period for public hearings from 14 days to 10 days before the hearing for both counties and municipalities. Additionally, it introduces new provisions allowing counties to issue bonds for courthouses or justice centers if they are connected to existing jails or correctional facilities.

Furthermore, the bill expands the definition of "debt obligation" to include bonds for courthouses or justice centers, and it clarifies the application process for state guarantees on debt obligations. It also specifies that applications for allocations of residential rental bonds must be submitted with a deposit and outlines the conditions under which issuers must permanently issue obligations equal to their allocation. Overall, the bill aims to streamline the process for local governments to finance capital improvements while ensuring public input through required hearings.

Statutes affected:
Introduction: 373.40, 446A.086, 462C.04, 469.104, 469.154, 474A.091, 475.521, 641.23