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HF 1991

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/08/2021 02:23pm

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

Bill Text Versions

Engrossments
Introduction Posted on 03/08/2021

Current Version - as introduced

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A bill for an act
relating to housing; 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 PUBLIC HOUSING REHABILITATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $100,000,000 is appropriated from the bond proceeds
fund to the commissioner of the Minnesota 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, including those public housing
entities permitted under Minnesota Statutes, section 469.012, subdivision 2j, 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 $100,000,000 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