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SF 4400

Introduction - 94th Legislature (2025 - 2026)

Posted on 03/19/2026 09:37 a.m.

KEY: stricken = removed, old language.
underscored = added, new language.
Version List SF4400 Authors and Status
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A bill for an act
 relating to public finance; reducing the aggregate bond limitation applicable to the
allocation of private activity bonds for qualifying residential rental projects;
amending Minnesota Statutes 2024, section 474A.02, subdivision 1a.

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

Section 1.

Minnesota Statutes 2024, section 474A.02, subdivision 1a, is amended to read:


Subd. 1a.

Aggregate bond limitation.

"Aggregate bond limitation" means deleted text begin up to 55deleted text end new text begin the
greater of: (1) 30new text end percent of the reasonably expected aggregate basis of a residential rental
project and the land on which the project is or will be locatednew text begin ; or (2) the maximum
supportable permanent amortizing debt, subject to a maximum of 40 percent of the reasonably
expected aggregate basis of a residential rental project and the land on which the project is
or will be locatednew text end .

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective January 1, 2027.
 new text end