SF 1094

1st Engrossment - 93rd Legislature (2023 - 2024) Posted on 06/22/2023 11:02am

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

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

Section 1. new text begin PUBLIC HOUSING REHABILITATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriations. new text end

new text begin $250,000,000 is appropriated from the bond proceeds
fund to the Minnesota Housing Finance Agency for transfer to the housing development
fund to finance the costs of rehabilitation to preserve public housing under Minnesota
Statutes, section 462A.202, subdivision 3a. For purposes of this section, "public housing"
means housing for low-income persons and households financed by the federal government
and publicly owned. The agency may give priority to proposals that maximize federal or
local resources to finance the capital costs and requests that prioritize health, safety, and
energy improvements. The priority in Minnesota Statutes, section 462A.202, subdivision
3a, for projects to increase the supply of affordable housing and the restrictions of Minnesota
Statutes, section 462A.202, subdivision 7, do not apply to this appropriation.
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 $250,000,000 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