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, federally recognized American Indian Tribes, nonprofit organizations, and private developers, while ensuring that disqualified individuals and businesses are excluded from receiving these funds. The bill also introduces a requirement for recipients to sign a disclosure confirming their eligibility and outlines the use of funds 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 Minnesota 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 change allows for the continued issuance of credit certificates and allocation certificates beyond the previously established deadline, thereby enhancing the stability and availability of housing tax credits in Minnesota. The effective date of this repeal is the day following final enactment.

Statutes affected:
Introduction: 290.0683, 462A.40