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HF 4741

as introduced - 92nd Legislature (2021 - 2022) Posted on 05/09/2022 04:01pm

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
relating to capital investment; expanding the homeownership education, counseling,
and training program to include specialized homeownership education for veterans;
amending Minnesota Statutes 2020, section 462A.209, subdivisions 1, 3, by adding
a subdivision.

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

Section 1.

Minnesota Statutes 2020, section 462A.209, subdivision 1, is amended to read:


Subdivision 1.

Full cycle homeownership services.

The homeownership education,
counseling, and training program shall be used to provide funding to community-based
nonprofit organizations and political subdivisions to assist them in building the capacity to
provide and providing full cycle homeownership services to low and moderate income home
buyers and homeowners, including seniorsnew text begin and veteransnew text end . The purpose of the program is to
encourage private investment in affordable housing and collaboration of nonprofit
organizations and political subdivisions with each other and private lenders in providing
full cycle homeownership services.

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.

Minnesota Statutes 2020, section 462A.209, subdivision 3, is amended to read:


Subd. 3.

Eligibility.

The agency shall establish eligibility criteria for nonprofit
organizations and political subdivisions to receive funding under this section. The eligibility
criteria must require the nonprofit organization or political subdivision to provide, to build
capacity to provide, or support full cycle homeownership services for eligible home buyers.
The agency may fund a nonprofit organization or political subdivision that will provide full
cycle homeownership services by coordinating with one or more other organizations that
will provide specific components of full cycle homeownership services. The agency may
make exceptions to providing all components of full cycle lending if justified by the
application. If there are more applicants requesting funding than there are funds available,
the agency shall award the funds on a competitive basis and also assure an equitable
geographic distribution of the available funds. The eligibility criteria must require the
nonprofit organization or political subdivision to have a demonstrated involvement in the
local community and to target the housing affordability needs of the local community or to
have demonstrated experience with counselingnew text begin veterans ornew text end older persons on housing, or
both. The eligibility criteria may include a requirement for specific training provided by
designated state or national entities. The agency may also include an eligibility criteria that
requires counselor certification or organizational accreditation by specified organizations
which provide certification or accreditation services. Partnerships and collaboration with
innovative, grass roots, or community-based initiatives shall be encouraged. The agency
shall give priority to nonprofit organizations and political subdivisions that have funding
from other sources for full cycle homeownership services. Applicants for funds under section
462A.057 may also apply funds under this program.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end

Sec. 3.

Minnesota Statutes 2020, section 462A.209, is amended by adding a subdivision
to read:


new text begin Subd. 7a. new text end

new text begin Full-cycle homeownership services to veterans. new text end

new text begin The agency shall require
nonprofits and political subdivisions receiving funding under this section to provide full-cycle
homeownership services to veterans. Full-cycle homeownership services to veterans shall
include education and counseling regarding homeownership grants and programs made
available to veterans both under this chapter and through the United States Department of
Veterans Affairs.
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

Sec. 4. new text begin APPLICATION.
new text end

new text begin Sections 1, 2, and 3 are subject to the Minnesota Constitution, article IV, section 17.
new text end