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HF 4617

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/07/2024 02:44pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to taxation; property; dedicating a portion of local government aid to cities
for pre-1940 housing improvements; amending Minnesota Statutes 2022, section
477A.013, by adding a subdivision.


Section 1.

Minnesota Statutes 2022, section 477A.013, is amended by adding a subdivision
to read:

new text begin Subd. 15. new text end

new text begin Dedicated use of pre-1940 housing aid. new text end

new text begin (a) A city receiving aid under
subdivision 9 in any year must dedicate an amount of aid equal to the city's pre-1940 housing
percentage under section 477A.011, subdivision 30, multiplied by its city formula aid amount
to fund urban renewal projects on pre-1940 housing, including but not limited to updating
utilities and infrastructure and updating or improving wiring, plumbing, insulation, heating,
cooling, or efficiency systems. The aid may be used directly for the purposes under this
paragraph or as a combination of grants or low interest loans to property owners.
new text end

new text begin (b) If the amount calculated under this subdivision is less than $100, the minimum
dedication amount of aid for these programs is zero. The amount of aid going to housing
programs under this subdivision is in addition to any other money from grants, fees, or other
sources that are dedicated to housing programs.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for aids payable in calendar year 2024
and thereafter.
new text end