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HF 528

as introduced - 88th Legislature (2013 - 2014) Posted on 03/04/2013 03:27pm

KEY: stricken = removed, old language.
underscored = added, new language.
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Bill Text Versions

Engrossments
Introduction Posted on 02/13/2013

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4
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2.1

A bill for an act
 relating to capital investment; appropriating money for public housing
rehabilitation; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin HOUSING FINANCE AGENCY; PUBLIC HOUSING
REHABILITATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $15,000,000 is appropriated from the bond proceeds
fund to the Housing Finance Agency for transfer to the housing development fund to
finance the costs of rehabilitation to preserve public housing under Minnesota Statutes,
section 462A.202, subdivision 3a. For purposes of this section, "public housing" means
housing for low-income persons and households financed by the federal government and
owned and operated by the public housing authorities and agencies formed by cities and
counties. Public housing authorities receiving a public housing assessment composite
score of 80 or above are eligible to receive funding. Priority must be given to proposals
that maximize federal or local resources to finance the capital costs. The priority in
Minnesota Statutes, section 462A.202, subdivision 3a, for projects to increase the supply
of affordable housing and the restrictions of Minnesota Statutes, section 462A.202,
subdivision 7, do not apply to this appropriation.
 new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in this section from the
bond proceeds fund, the commissioner of management and budget shall sell and issue
bonds of the state in an amount up to $15,000,000 in the manner, upon the terms, and with
the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
Minnesota Constitution, article XI, sections 4 to 7.
 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