HF 92

as introduced - 91st Legislature, 2020 2nd Special Session (2020 - 2020) Posted on 07/14/2020 04:08pm

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 the last Monday in June 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 the last Monday in June 2021. In the event no application
is made by the last Monday in June 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