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HF 1311

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/24/2023 03:58am

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
 relating to housing; modifying the maximum grant or loan amount for workforce
housing projects; appropriating money; amending Minnesota Statutes 2022, section
462A.39, subdivision 5.

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

Section 1.

Minnesota Statutes 2022, section 462A.39, subdivision 5, is amended to read:


Subd. 5.

Allocation.

The amount of a grant or deferred loans may not exceed deleted text begin 25deleted text end new text begin 50new text end
percent of the rental housing development project cost. The commissioner shall not award
a grant or deferred loans to a city without certification by the city that the amount of the
grant or deferred loans shall be matched by a local unit of government, business, or nonprofit
organization with $1 for every $2 provided in grant or deferred loans funds.

Sec. 2. new text begin WORKFORCE HOUSING.
new text end

new text begin $20,000,000 in fiscal year 2024 is appropriated from the general fund to the Minnesota
Housing Finance Agency for transfer to the housing development fund for the workforce
housing development program under Minnesota Statutes, section 462A.39. This is a onetime
appropriation.
 new text end