HF 3098

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital improvements; appropriating money for supportive housing;
authorizing the sale and issuance of state bonds.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin (a) $10,000,000 is appropriated from the bond proceeds fund to the commissioner of
the Housing Finance Agency for transfer to the housing development fund for the purpose
of making loans or grants for temporary or transitional housing under Minnesota Statutes,
section 462A.201, subdivision 2, including loans or grants for housing homeless youth,
homeless families, battered women, and individuals leaving prostitution.
new text end

new text begin (b) $33,000,000 is appropriated from the bond proceeds fund to the commissioner
of the Housing Finance Agency for loans and grants for publicly owned permanent
rental housing under Minnesota Statutes, section 462A.202, subdivision 3a, for persons
who have been without a permanent residence for at least 12 months or on at least four
occasions in the last three years or are at significant risk of lacking a permanent residence
for at least 12 months or on at least four occasions in the last three years. The housing must
provide or coordinate with linkages to services necessary for residents to maintain housing
stability and maximize opportunities for education and employment. Notwithstanding
Minnesota Statutes, section 462A.202, subdivision 3a, the commissioner shall give equal
consideration to proposals for projects serving individuals and those serving families with
children. Preference among comparable proposals shall be given to proposals for the
acquisition and rehabilitation of property.
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Sec. 2. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated in section 1 from the bond proceeds fund,
the commissioner of finance shall sell and issue bonds of the state in an amount up to
$43,000,000 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

Sec. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final enactment.
new text end