SF 1591

1st Engrossment - 82nd Legislature (2001 - 2002)

Posted on 12/15/2009 12:00 a.m.

  1.1                          A bill for an act
  1.2             relating to housing; appropriating money for home 
  1.3             ownership program using Section 8 resources. 
  1.4   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.5      Section 1.  [HOME OWNERSHIP PROGRAM; APPROPRIATION.] 
  1.6      (a) The housing finance agency shall make grants to Section 
  1.7   8 administering agencies to acquire and rehabilitate or 
  1.8   construct homes for resale to households eligible for Section 8 
  1.9   assistance using Section 8 vouchers and certificates to finance 
  1.10  the home purchases.  The housing finance agency, in conjunction 
  1.11  with local Section 8 administering agencies, shall set 
  1.12  guidelines for the sale of homes under this section to ensure 
  1.13  that a home buyer who later loses eligibility for Section 8 
  1.14  assistance will have an opportunity to purchase the home and to 
  1.15  retain any equity built up in the home.  For purposes of this 
  1.16  section, "Section 8" means Section 8 of the United States 
  1.17  Housing Act of 1937. 
  1.18     (b) $....... is appropriated from the general fund to the 
  1.19  housing finance agency for transfer to the housing development 
  1.20  fund for the purposes of paragraph (a).  This appropriation is 
  1.21  available until June 30, 2003.