HF 31

as introduced - 91st Legislature, 2020 7th Special Session (2020 - 2020) Posted on 12/14/2020 03:04pm

A bill for an act
relating to housing; providing an extension for the issuance of certain housing
bonds.

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

Section 1. new text begin APPLICATION DEPOSIT FOR AN ALLOCATION OF HOUSING
BONDS.
new text end

new text begin Notwithstanding Minnesota Statutes, sections 474A.061, subdivision 7, paragraph (b),
and 474A.21, issuers that return amounts of bonding authority allocated from the housing
pool between January 1, 2020, and June 29, 2020, may elect to have the department retain
100 percent of the application deposit made for the initial application and credit it toward
an application deposit for a future application for the same project received by the department
not later than June 28, 2021. In the event no application is made by June 28, 2021, the
department shall transfer the applicable amount on deposit as directed in Minnesota Statutes,
section 474A.21.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective retroactively from July 1, 2020.
new text end