1.1 	A bill for an act
1.2 	relating to housing; providing an extension for the issuance of certain housing 
1.3 	bonds.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. APPLICATION DEPOSIT FOR AN ALLOCATION OF HOUSING 
1.6 	BONDS.
 1.7 	Notwithstanding Minnesota Statutes, sections 474A.061, subdivision 7, paragraph (b), 
1.8 	and 474A.21, issuers that return amounts of bonding authority allocated from the housing 
1.9 	pool between January 1, 2020, and June 29, 2020, may elect to have the department retain 
1.10 	100 percent of the application deposit made for the initial application and credit it toward 
1.11 	an application deposit for a future application for the same project received by the department 
1.12 	not later than June 28, 2021. In the event no application is made by June 28, 2021, the 
1.13 	department shall transfer the applicable amount on deposit as directed in Minnesota Statutes, 
1.14 	section 474A.21.

1.15 	EFFECTIVE DATE. This section is effective retroactively from July 1, 2020.