This bill amends Minnesota Statutes 2024, section 462A.40, subdivision 2, to expand the allowable uses of funds from the Minnesota housing tax credit contribution account. Specifically, it introduces provisions that permit funding for 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 funding provisions, the bill maintains the existing framework for awarding grants and loans for multifamily and single-family developments aimed at low and moderate-income individuals and families. The agency is also encouraged to prioritize proposals that include regulatory changes or waivers that lead to cost savings, such as increased density or flexibility in development standards.

Statutes affected:
Introduction: 462A.40