HF 203

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/15/2021 05:59pm

A bill for an act
relating to housing; refunding deposits to bond issuers on applications for bonding
authority allocations from the 2020 housing pool.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin HOUSING POOL BONDING AUTHORITY APPLICATION DEPOSIT
REFUND.
new text end

new text begin Notwithstanding Minnesota Statutes, sections 474A.061, subdivisions 1a, paragraph (a),
and 7; and 474A.21, due to the unique circumstances of the COVID-19 pandemic, issuers
that returned all of their allocation of bonding authority from the 2020 housing pool, shall
receive a refund of the amount of the application deposit submitted with the issuer's 2020
housing pool application, less any amount previously refunded. Any application deposit
money that has not yet been transferred under Minnesota Statutes, section 474A.21, as of
the date of final enactment that is connected to full returns of bonding authority from the
2020 housing pool is not required to be deposited in the fund under Minnesota Statutes,
section 462A.201; and the department may instead retain that money in the separate account
in the general fund under Minnesota Statutes, section 474A.21. The amount necessary to
refund the application deposits under this section is appropriated to the department from
the separate account in the general fund under Minnesota Statutes, section 474A.21. For
purposes of this section, "department" means the Department of Management and Budget.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end