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 low and moderate-income housing by ensuring that funds can be allocated not only for construction and rehabilitation but also for essential services that support residents in these housing developments.

The bill maintains the existing provisions for grants and loans aimed at multifamily and single-family developments while emphasizing the importance of regulatory changes that can lead to cost reductions. By including supportive services as an allowable use of funds, the legislation seeks to improve the overall effectiveness of housing initiatives and better address the needs of vulnerable populations in Minnesota.

Statutes affected:
Introduction: 462A.40