Minnesota Legislature
HF 3975
as introduced - 89th Legislature (2015 - 2016) Posted on 04/27/2016 08:15am
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A bill for an act
relating to housing finance; appropriating money for the home ownership
assistance fund, the economic development and housing challenge program, and
for capacity building grants.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1. new text begin HOME OWNERSHIP ASSISTANCE FUND.
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$5,000,000 in fiscal year 2017 is appropriated from the general fund to the
commissioner of housing finance for the home ownership assistance program under
Minnesota Statutes, section 462A.21, subdivision 8, to continue efforts to reduce the
gap between home ownership rates in the state overall and the home ownership rate in
communities of color.
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Sec. 2. new text begin HOUSING CHALLENGE PROGRAM.
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$5,000,000 in fiscal year 2017 is appropriated from the general fund to the
commissioner of housing finance for a transfer to the housing development fund for
the economic development and housing challenge program under Minnesota Statutes,
section 462A.33, for grants to community land trust programs and programs that work in
coordination with community land trust programs.
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Sec. 3. new text begin CAPACITY BUILDING GRANTS.
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(a) $5,000,000 in fiscal year 2017 is appropriated from the general fund to the
commissioner of housing finance for nonprofit capacity building grants under Minnesota
Statutes, section 462A.21, subdivision 3b, to provide grants to organizations through the
Enhanced Financial Capacity Homeownership Initiative, to continue efforts to reduce
the gap between home ownership rates in the state overall and the home ownership rate
in communities of color.
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(b) Of this amount, $1,000,000 is for a grant to the nonprofit Hmong American
Mutual Assistance Association Incorporated.
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(c) Of this amount, $1,000,000 is for a grant to the nonprofit Lao Family Community
of Minnesota.
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