This bill authorizes the issuance of housing infrastructure bonds in Minnesota, allowing the agency to issue up to $200,000,000 in bonds, in addition to previously authorized amounts. The new subdivision added to Minnesota Statutes 2024, section 462A.37, specifies that these bonds can be pledged for payments under the section. The bill also includes provisions for the annual certification of debt service amounts by the agency to the commissioner of management and budget, ensuring that funds are transferred to the housing infrastructure bond account as needed.

Additionally, the bill amends Minnesota Statutes 2025 Supplement, section 462A.37, subdivision 5, to include a new provision for the transfer of funds related to the newly authorized bonds. This includes a requirement for the commissioner to transfer certified amounts to the housing infrastructure bond account for bonds issued under the new subdivision, ensuring that the necessary appropriations from the general fund are made to support these transfers. The effective date for these changes is set for the day following final enactment.

Statutes affected:
Introduction: 462A.37