SF 3167

as introduced - 89th Legislature (2015 - 2016) Posted on 04/04/2016 09:03am

A bill for an act
relating to housing; establishing a workforce and affordable homeownership
development program; requiring reports; appropriating a portion of proceeds of
the mortgage registry tax and the deed tax to the Minnesota Housing Finance
Agency to be used for creation of workforce and affordable ownership housing;
proposing coding for new law in Minnesota Statutes, chapter 462A.

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

Section 1.

new text begin [462A.38] WORKFORCE AND AFFORDABLE HOMEOWNERSHIP
DEVELOPMENT PROGRAM.
new text end

new text begin Subdivision 1. new text end

new text begin Establishment. new text end

new text begin A workforce and affordable homeownership
development program is established to award homeownership development grants
to nonprofit organizations, cooperatives created under chapter 308A or 308B, and
community land trusts created for the purposes outlined in section 462A.31, subdivision
1, for development of workforce and affordable homeownership projects. The purpose
of the program is to increase the supply of workforce and affordable, owner-occupied
multifamily or single-family housing throughout Minnesota.
new text end

new text begin Subd. 2. new text end

new text begin Use of funds. new text end

new text begin (a) Grant funds awarded under this program may be used for:
new text end

new text begin (1) development costs;
new text end

new text begin (2) rehabilitation;
new text end

new text begin (3) land development; and
new text end

new text begin (4) residential housing, including storm shelters and community facilities.
new text end

new text begin (b) A project funded through the grant program shall serve households that meet the
income limits as provided in section 462A.33, subdivision 5, unless a project is intended
for the purpose outlined in section 462A.02, subdivision 6.
new text end

new text begin Subd. 3. new text end

new text begin Application. new text end

new text begin The commissioner shall develop forms and procedures for
soliciting and reviewing applications for grants under this section. The commissioner shall
consult with interested stakeholders when developing the guidelines and procedures for
the program. In making grants, the commissioner shall establish semiannual application
deadlines in which grants will be authorized from all or part of the available appropriations.
new text end

new text begin Subd. 4. new text end

new text begin Awarding grants. new text end

new text begin Among comparable proposals, preference must be
given to proposals that include contributions from nonstate resources for the greatest
portion of the total development cost.
new text end

new text begin Subd. 5. new text end

new text begin Statewide program. new text end

new text begin The agency shall attempt to make grants in
approximately equal amounts to applicants outside and within the metropolitan area.
new text end

new text begin Subd. 6. new text end

new text begin Report. new text end

new text begin Beginning January 15, 2018, the commissioner must annually
submit a report to the chairs and ranking minority members of the senate and house of
representatives committees having jurisdiction over housing and workforce development
specifying the projects that received grants under this section and the specific purposes for
which the grant funds were used.
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. 2. new text begin APPROPRIATIONS; WORKFORCE AND AFFORDABLE
HOMEOWNERSHIP DEVELOPMENT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriations. new text end

new text begin In fiscal years 2017 to 2025, the amount determined
under subdivision 2 is annually appropriated from the general fund to the Minnesota
Housing Finance Agency for the workforce and affordable homeownership development
program under Minnesota Statutes, section 462A.38. The dedicated money under this
section must supplement traditional sources of funding for this purpose and may not be
used as a substitute. The dedicated money may not be used to pay debt service on bonds.
new text end

new text begin Subd. 2. new text end

new text begin Determination of funding amount. new text end

new text begin By September 1, 2016, and each year
thereafter through 2025, the commissioner of revenue shall determine the total amount
of the proceeds of the mortgage registry tax imposed under Minnesota Statutes, section
287.035, and the deed tax imposed under Minnesota Statutes, section 287.21, that was
collected during the fiscal year ending in that calendar year and deposited in the general
fund, and shall determine the amount by which that exceeds the amount so collected
in 2015.
new text end