Minnesota Legislature
HF 4290
as introduced - 93rd Legislature (2023 - 2024) Posted on 02/26/2024 02:21pm
Bill Text Versions
| Engrossments | ||
|---|---|---|
| Introduction | Posted on 02/26/2024 |
Current Version - as introduced
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A bill for an act
relating to housing; modifying the Greater Minnesota Housing Infrastructure
program; appropriating money for the Greater Minnesota Housing Infrastructure
program; authorizing the sale and issuance of state bonds; amending Minnesota
Statutes 2023 Supplement, section 462A.395, subdivision 5.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2023 Supplement, section 462A.395, subdivision 5, is
amended to read:
Subd. 5.
Maximum grant amount.
A city may receive no more than deleted text begin $30,000deleted text end new text begin $40,000new text end
per lot for single-family, duplex, triplex, or fourplex housing developed and no more than
$180,000 per lot for multifamily housing with more than four units per building. A city may
receive no more than $500,000 in two years for one or more housing developments.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective the day following final enactment.
new text end
Sec. 2. new text begin GENERAL OBLIGATION BONDS.
new text end
new text begin Subdivision 1. new text end
new text begin Appropriation. new text end
new text begin
$20,000,000 is appropriated from the bond proceeds
fund to the Minnesota Housing Finance Agency for transfer to the housing development
fund for the Greater Minnesota Housing Infrastructure grant program under Minnesota
Statutes, section 462A.395.
new text end
new text begin Subd. 2. new text end
new text begin Bond sale. new text end
new text begin
To provide the money appropriated in this section from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $20,000,000 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
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective the day following final enactment.
new text end