This bill modifies the eligibility criteria for recipients of Minnesota housing tax credit contributions by amending Minnesota Statutes 2024, section 462A.40, subdivision 3. It specifies that the Minnesota Housing Finance Agency may award grants or loans to various entities, including cities, Tribal housing corporations, and nonprofit organizations, while ensuring that disqualified individuals and businesses are excluded from receiving these funds. The bill also introduces a requirement that recipients must sign a disclosure confirming their eligibility, and it mandates that funds be used to serve households meeting specific income limits, except for projects funded under section 462A.39.

Additionally, the bill repeals Minnesota Statutes 2024, section 290.0683, subdivision 7, which contained a sunset provision for the housing tax credit, effectively removing the expiration date of December 31, 2028, for the agency's authority to issue credit certificates based on contributions received before January 1, 2029. This repeal ensures that the agency can continue to operate without the constraints of the previous sunset clause, thereby enhancing the stability and availability of housing tax credits in Minnesota. The changes are set to take effect the day following final enactment.

Statutes affected:
Introduction: 290.0683, 462A.40