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SF 3784

as introduced - 91st Legislature (2019 - 2020) Posted on 02/27/2020 04:33pm

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

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.5
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1.12 1.13 1.14 1.15 1.16

A bill for an act
relating to housing; modifying the maximum grant or loan amount for workforce
housing projects; appropriating money; amending Minnesota Statutes 2018, section 462A.39, subdivision 5.

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

Section 1.

Minnesota Statutes 2018, section 462A.39, subdivision 5, is amended to read:


Subd. 5.

Allocation.

The amount of a grant or deferred loans may not exceed deleted text begin25deleted text endnew text begin 50new text end
percent of the rental housing development project cost. The commissioner shall not award
a grant or deferred loans to a city without certification by the city that the amount of the
grant or deferred loans shall be matched by a local unit of government, business, or nonprofit
organization with $1 for every $2 provided in grant or deferred loans funds.

Sec. 2. new text beginWORKFORCE HOUSING.
new text end

new text begin $2,000,000 in fiscal year 2021 is appropriated from the general fund to the Minnesota
Housing Finance Agency for transfer to the housing development fund for the workforce
housing development program under Minnesota Statutes, section 462A.39. This is a onetime
appropriation.
new text end