1.1 	A bill for an act
1.2 	relating to housing; directing certain senior living rental properties to lower current 
1.3 	rent.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. AFFORDABLE HOUSING; SENIOR LIVING APARTMENTS.
 1.6 		Subdivision 1.Purpose. It is the intent of the legislature that housing be affordable for 
1.7 	seniors of modest economic means who are living on fixed incomes and that entities that 
1.8 	take advantage of public subsidies to provide affordable housing do so in a manner that is 
1.9 	consistent with and in the spirit of those public subsidies.
1.10 		Subd. 2.Affordable rent. Notwithstanding any law to the contrary, any senior living 
1.11 	apartment in Anoka County must reduce its monthly rent for all its current residents by at 
1.12 	least $100 a month. For purposes of this section, a "senior living apartment" means a facility 
1.13 	that:
1.14 	(1) is a residential building within the meaning of Minnesota Statutes, section 504B.001, 
1.15 	subdivision 11;
1.16 	(2) offers housing to persons age 55 and older;
1.17 	(3) is funded through affordable housing tax credits under section 42 of the Internal 
1.18 	Revenue Code;
1.19 	(4) is at least four stories tall and has more than 160 rentable units; and
1.20 	(5) is located within a mile of the Mississippi River in a city of the second class that has 
1.21 	at least 60,000 inhabitants.

2.1 	EFFECTIVE DATE; APPLICATION. This section is effective the day following 
2.2 	final enactment and applies to all leases entered into on or before that day.