Minnesota Office of the Revisor of Statutes
[*Add Subtitle/link: Office]

Menu

Revisor of Statutes Menu

Minnesota Session Laws

Key: (1) language to be deleted (2) new language

                            CHAPTER 167-S.F.No. 1543 
                  An act relating to public finance; changing procedures 
                  for allocating bonding authority; changing provisions 
                  relating to housing programs and plans; amending 
                  Minnesota Statutes 1994, sections 462C.01; 462C.02, 
                  subdivision 3; 462C.04, subdivisions 2 and 3; 
                  462C.071, subdivision 2; 474A.03, subdivisions 1 and 
                  4; 474A.061, subdivisions 2a, 2c, 4, and 6; 474A.091, 
                  subdivisions 3 and 5; and 474A.131, subdivision 2; 
                  repealing Minnesota Statutes 1994, sections 462C.02, 
                  subdivision 2; 462C.03, subdivisions 1 and 5; and 
                  462C.04, subdivision 1. 
        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
           Section 1.  Minnesota Statutes 1994, section 462C.01, is 
        amended to read: 
           462C.01 [AUTHORIZATION.] 
           A city may develop and administer programs of (1) making or 
        purchasing mortgage or rehabilitation loans pursuant to section 
        462C.03 to finance the acquisition or rehabilitation of single 
        family housing by low and moderate income persons and families 
        anywhere within its boundaries, or (2) making or purchasing 
        loans pursuant to section 462C.05 to finance multifamily housing 
        developments or the rehabilitation of multifamily housing 
        developments upon the following conditions: 
           (a) The city develops a housing plan as required by section 
        462C.03; 
           (b) A public hearing is held thereon after one publication 
        of notice in a newspaper circulating generally in the city, at 
        least 30 days before the hearing, after which the plan may be 
        adopted by resolution of the governing body with or without 
        amendment; 
           (c) The plan is submitted for review pursuant to section 
        462C.04, subdivision 1; and 
           (d) Each if the program provided for in the plan is 
        submitted for review pursuant to section 462C.04, subdivision 2. 
           Sec. 2.  Minnesota Statutes 1994, section 462C.02, 
        subdivision 3, is amended to read: 
           Subd. 3.  "Program" means an individual component of the a 
        city's overall program for housing plan for which one or more 
        issues of revenue bonds or obligations is proposed.  
           Sec. 3.  Minnesota Statutes 1994, section 462C.04, 
        subdivision 2, is amended to read: 
           Subd. 2.  [PROGRAM REVIEW.] A public hearing shall be held 
        on each program after one publication of notice in a newspaper 
        circulating generally in the city, at least 15 days before the 
        hearing.  On or before the day on which notice of the public 
        hearing is published, the city shall submit the program to the 
        metropolitan council, if the city is located in the metropolitan 
        area as defined in section 473.121, subdivision 2, or to the 
        regional development commission for the area in which the city 
        is located, if any, for review and comment.  The appropriate 
        reviewing agency shall comment on:  
           (a) whether the program is consistent with the housing plan 
        of the city; and 
           (b) whether the program furthers local and regional housing 
        policies and is consistent with the metropolitan development 
        guide, if the city is located in the metropolitan area, or 
        adopted policies of the regional development commission; and 
           (b) the compatability of the program with the housing 
        portion of the comprehensive plan of the city, if any. 
           Review of the program may be conducted either by the board 
        of the reviewing agency or by the staff of the agency.  Any 
        comment submitted by the reviewing agency to the city must be 
        presented to the body considering the proposed program at the 
        public hearing held on the program. 
           A member or employee of the reviewing agency shall be 
        permitted to present the comments of the reviewing agency at the 
        public hearing.  After conducting the public hearing, the 
        program may be adopted with or without amendment, provided that 
        any amendments must not be inconsistent with the comments, if 
        any, of the reviewing agency and must not contain any material 
        changes from the program submitted to the reviewing agency other 
        than changes in the financial aspects of any proposed issue of 
        bonds or obligations.  If any material change other than a 
        change in the financial aspects of a proposed issue of bonds or 
        obligations, or any change which is inconsistent with the 
        comments of the reviewing agency is adopted, the amended program 
        shall be resubmitted to the appropriate reviewing agency for 
        review and comment, and a public hearing shall be held on the 
        amended program after one publication of notice in a newspaper 
        circulating generally in the city at least 15 days before the 
        hearing.  The amended program shall be considered after the 
        public hearing in the same manner as consideration of the 
        initial program. 
           Sec. 4.  Minnesota Statutes 1994, section 462C.04, 
        subdivision 3, is amended to read: 
           Subd. 3.  [CITY REPORT.] Within 30 days after the bonds are 
        issued for a housing program, the city shall submit a report to 
        the Minnesota housing finance agency, the metropolitan council 
        if the city is located within the metropolitan area as defined 
        in section 473.121, subdivision 2, or the appropriate regional 
        development commission.  The report must include a program 
        description, the amount of bonds issued, the income limits, and 
        the rent levels. 
           Sec. 5.  Minnesota Statutes 1994, section 462C.071, 
        subdivision 2, is amended to read: 
           Subd. 2.  [LIMITATION; ORIGINATION PERIOD.] During the 
        first ten months of an origination period, a city may make loans 
        financed with proceeds of mortgage bonds for the purchase of 
        existing housing.  Loans financed with the proceeds of mortgage 
        bonds for new housing in the metropolitan area may be made 
        during the first ten months of an origination period only if at 
        least one of the following conditions is met: 
           (1) the new housing is located in a redevelopment area; 
           (2) the new housing is replacing a structurally substandard 
        structure or structures; 
           (3) the new housing is located on a parcel purchased by the 
        city or conveyed to the city under section 282.01, subdivision 
        1; or 
           (4) the new housing is part of a housing affordability 
        initiative, other than those financed with the proceeds from the 
        sale of bonds, in which federal, state, or local assistance is 
        used to substantially improve the terms of the financing or to 
        substantially write down the purchase price of the new housing; 
        or 
           (5) the new housing is located in a city that has entered 
        into a housing affordability agreement with the metropolitan 
        council.  
           Upon expiration of the first ten-month period, a city may 
        make loans financed with the proceeds of mortgage bonds for the 
        purchase of new and existing housing. 
           Sec. 6.  Minnesota Statutes 1994, section 474A.03, 
        subdivision 1, is amended to read: 
           Subdivision 1.  [ANNUAL VOLUME CAP UNDER FEDERAL TAX LAW; 
        POOL ALLOCATIONS.] At the beginning of each calendar year after 
        December 31, 1991, the commissioner shall determine the 
        aggregate dollar amount of the annual volume cap under federal 
        tax law for the calendar year, and of this amount the 
        commissioner shall make the following allocation:  
           (1) $65,000,000 $55,000,000 to the small issue pool; 
           (2) $46,000,000 $56,000,000 to the housing pool, 
        $37,000,000 of which is reserved until the day after the first 
        Monday in February for single-family housing program; 
           (3) $10,000,000 to the public facilities pool; and 
           (4) amounts to be allocated as provided in subdivision 2a.  
           If the annual volume cap is greater or less than the amount 
        of bonding authority allocated under clauses (1) to (4) and 
        subdivision 2a, paragraph (a), clauses (1) to (4), the 
        allocation must be adjusted so that each adjusted allocation is 
        the same percentage of the annual volume cap as each original 
        allocation is of the total bonding authority originally 
        allocated. 
           Sec. 7.  Minnesota Statutes 1994, section 474A.03, 
        subdivision 4, is amended to read: 
           Subd. 4.  [APPLICATION FEE.] Every entitlement issuer and 
        other issuer shall pay to the commissioner a nonrefundable 
        application fee to offset the state cost of program 
        administration.  The application fee is $20 for each $100,000 of 
        entitlement or allocation requested, with the request rounded to 
        the nearest $100,000.  The minimum fee is $20.  Fees received by 
        the commissioner must be credited to the general 
        fund.  Application fees for projects of entitlement issuers must 
        be submitted to the commissioner with the notice of issuance of 
        bonds, notice of use of mortgage credit certificates, and notice 
        of carry forward. 
           Sec. 8.  Minnesota Statutes 1994, section 474A.061, 
        subdivision 2a, is amended to read: 
           Subd. 2a.  [HOUSING POOL ALLOCATION.] (a) On the first 
        business day that falls on a Monday of the calendar year, and 
        the first Monday in February, the first Monday in March, and the 
        first Monday in April, the commissioner shall allocate available 
        bonding authority in the housing pool to applications received 
        by the Monday of the previous week for residential rental 
        projects that are not restricted to persons who are 55 years of 
        age or older and that meet the eligibility criteria under 
        section 474A.047.  If an issuer that receives an allocation 
        under this paragraph does not issue obligations equal to all or 
        a portion of the allocation received within 120 days of the 
        allocation or returns the allocation to the commissioner, the 
        amount of the allocation is canceled and returned for 
        reallocation through the housing pool. 
           (b) After April February 1, and through April February 
        15, the Minnesota housing finance agency may accept applications 
        from cities for single-family housing programs which meet 
        program requirements as follows:  
           (1) the housing program must meet a locally identified 
        housing need and be economically viable; 
           (2) the adjusted income of home buyers may not exceed the 
        greater of the agency's income limits or 80 percent of the area 
        median income as published by the Department of Housing and 
        Urban Development; 
           (3) house price limits may not exceed: 
           (i) the greater of agency house price limits or the federal 
        price limits for housing up to a maximum of $95,000; or 
           (ii) for a new construction affordability initiative, the 
        greater of 115 percent of agency house price limits or 90 
        percent of the median purchase price in the city for which the 
        bonds are to be sold up to a maximum of $95,000. 
           Data establishing the median purchase price in the city 
        must be included in the application by a city requesting house 
        price limits higher than the housing finance agency's house 
        price limits; 
           (4) the housing program meets the requirements of section 
        474A.048; and 
           (5) an application deposit equal to one percent of the 
        requested allocation must be submitted with the city's signed 
        allocation agreement.  The agency shall submit the city's 
        application and application deposit to the commissioner when 
        requesting an allocation from the housing pool. 
           Applications by a consortium shall include the name of each 
        member of the consortium and the amount of allocation requested 
        by each member. 
           The Minnesota housing finance agency may accept 
        applications from July 1 June 15 through July 15 June 30 from 
        cities for single-family housing programs which meet program 
        requirements specified under clauses (1) to (5) if bonding 
        authority is available in the housing pool.  The agency and a 
        representative for each applicant shall negotiate the terms of 
        an agreement regarding the allocation of available authority 
        among the applicants.  The agreement agency must allot available 
        bonding authority among the applicants.  For purposes of 
        paragraphs (a) to (d), "city" means a county or a consortium of 
        local government units that agree through a joint powers 
        agreement to apply together for single-family housing programs, 
        and has the meaning given it in section 462C.02, subdivision 6, 
        and.  "Agency" means the Minnesota housing finance agency.  
           (b) Upon reaching agreement with participating cities, the 
        agency shall forward the agreement and application deposit 
        checks to the commissioner.  The agreement must specify the 
        amounts allotted to each applicant. 
           (c) The total amount of allocation for mortgage bonds for 
        one city is limited to the lesser of:  (i) the amount requested, 
        or (ii) the product of the total amount available for mortgage 
        bonds from the housing pool, multiplied by the ratio of each 
        applicant's population as determined by the most recent estimate 
        of the city's population released by the state demographer's 
        office to the total of all the applicants' population, except 
        that each applicant shall be allocated a minimum of $100,000 
        regardless of the amount requested or the amount determined 
        under the formula in clause (ii).  If a city applying for an 
        allocation is located within a county that has also applied for 
        an allocation, the city's population will be deducted from the 
        county's population in calculating the amount of allocations 
        under this paragraph. 
           Upon determining the amount of each applicant's allocation, 
        the agency shall forward a list specifying the amounts allotted 
        to each application and application deposit checks to the 
        commissioner. 
           (d) The agency may issue bonds on behalf of participating 
        cities.  The agency shall request an allocation from the 
        commissioner for all applicants who choose to have the agency 
        issue bonds on their behalf and the commissioner shall allocate 
        the requested amount to the agency.  The agency may request an 
        allocation at any time after the first Monday in April February 
        and through the last Monday in July, but may request an 
        allocation no later than the last Monday in July.  The 
        commissioner shall return any application deposit to a city that 
        paid an application deposit under paragraph (a), clause (5), but 
        was not part of the agreement forwarded to the commissioner 
        under this paragraph. 
           (c) (e) A city may choose to issue bonds on its own behalf 
        or through a joint powers agreement or may use bonding authority 
        for mortgage credit certificates and may request an allocation 
        from the commissioner.  If the total amount requested by all 
        applicants exceeds the amount available in the pool, the city 
        may not receive a greater allocation than the amount it would 
        have received under the agreement forwarded by the Minnesota 
        housing finance agency to the commissioner.  No city may request 
        or receive an allocation from the commissioner until the 
        agreement list under paragraph (b) (c) has been forwarded to the 
        commissioner.  On and after the first Monday in April February 
        and through the last Monday in July, no city may receive an 
        allocation from the housing pool which has not first applied to 
        the Minnesota housing finance agency.  The commissioner shall 
        allocate the requested amount to the city or cities subject to 
        the limitations under this paragraph.  
           (d) If a city issues mortgage bonds from an allocation 
        received under paragraph (c) (d), the issuer must provide for 
        the recycling of funds into new loans.  If the issuer is not 
        able to provide for recycling, the issuer must notify the 
        commissioner in writing of the reason that recycling was not 
        possible and the reason the issuer elected not to have the 
        Minnesota housing finance agency issue the bonds.  "Recycling" 
        means the use of money generated from the repayment and 
        prepayment of loans for further eligible loans or for the 
        redemption of bonds and the issuance of current refunding bonds. 
           (e) The total amount of allocation for mortgage bonds or 
        mortgage credit certificates for one city is limited to the 
        lesser of (i) $4,000,000 or (ii) 20 percent of the total amount 
        available for allocation for mortgage bonds from the housing 
        pool on the first Tuesday after the first Monday in April. 
           (f) No city in an entitlement county may apply for or be 
        allocated authority to issue bonds or use mortgage credit 
        certificates from the housing pool. 
           (g) A city that does not use at least 50 percent of their 
        allotment by April 15 and at least $200,000 of their allotment 
        in the calendar year in which the allotment is made available 
        under paragraph (b), the date applications are due for the first 
        allocation that is made from the housing pool for single-family 
        housing programs in the immediately succeeding calendar year may 
        not apply to the housing pool for a single-family mortgage bond 
        or mortgage credit certificate program allocation or receive an 
        allotment under from the housing pool agreement in the 
        succeeding two calendar year years.  Each local government unit 
        in a consortium must meet the requirements of this paragraph. 
           Sec. 9.  Minnesota Statutes 1994, section 474A.061, 
        subdivision 2c, is amended to read: 
           Subd. 2c.  [PUBLIC FACILITIES POOL ALLOCATION.] From the 
        beginning of the calendar year and continuing for a period of 
        120 days, the commissioner shall reserve $5,000,000 of the 
        available bonding authority from the public facilities pool for 
        applications for public facilities projects to be financed by 
        the Western Lake Superior Sanitary District.  From the beginning 
        of the calendar year through the last Monday in July, the 
        commissioner shall allocate available bonding authority from the 
        public facilities pool on Monday of each week to applications 
        for eligible public facilities projects received on or before 
        the Monday of the preceding week.  If there are two or more 
        applications for public facilities projects from the pool and 
        there is insufficient available bonding authority to provide 
        allocations for all projects in any one week, the available 
        bonding authority shall be awarded by lot unless otherwise 
        agreed to by the respective issuers. 
           Sec. 10.  Minnesota Statutes 1994, section 474A.061, 
        subdivision 4, is amended to read: 
           Subd. 4.  [RETURN OF ALLOCATION; DEPOSIT REFUND.] (a) If an 
        issuer that receives an allocation under this section determines 
        that it will not issue obligations equal to all or a portion of 
        the allocation received under this section within 90 120 days of 
        allocation or within the time period permitted by federal tax 
        law, whichever is less, the issuer must notify the department.  
        If the issuer notifies the department or the 90-day 120-day 
        period since allocation has expired prior to the last Monday in 
        July, the amount of allocation is canceled and returned for 
        reallocation through the pool from which it was originally 
        allocated.  If the issuer notifies the department or the 90-day 
        120-day period since allocation has expired on or after the last 
        Monday in July, the amount of allocation is canceled and 
        returned for reallocation through the unified pool.  If the 
        issuer notifies the department after the last Monday in 
        November, the amount of allocation is canceled and returned for 
        reallocation to the Minnesota housing finance agency. 
           (b) An issuer that returns for reallocation all or a 
        portion of an allocation received under this section within 90 
        120 days of allocation shall receive within 30 days a refund 
        equal to:  
           (1) one-half of the application deposit for the amount of 
        bonding authority returned within 30 days of receiving 
        allocation; 
           (2) one-fourth of the application deposit for the amount of 
        bonding authority returned between 31 and 60 days of receiving 
        allocation; and 
           (3) one-eighth of the application deposit for the amount of 
        bonding authority returned between 61 and 90 120 days of 
        receiving allocation. 
           (c) No refund shall be available for allocations returned 
        90 120 or more days after receiving the allocation or beyond the 
        last Monday in November.  This subdivision does not apply to the 
        Minnesota housing finance agency or the Minnesota rural finance 
        authority. 
           (d) Notwithstanding paragraph (a), the commissioner shall 
        extend the 90-day allocation period for an additional 30 days if 
        the issuer applies for an extension and submits an amount equal 
        to one-quarter of one percent of the allocation with the 
        application for an allocation, provided that the 30 days does 
        not extend the allocation period beyond the last Monday in 
        November. 
           Sec. 11.  Minnesota Statutes 1994, section 474A.061, 
        subdivision 6, is amended to read: 
           Subd. 6.  [DEADLINE FOR ISSUANCE OF SMALL ISSUE BONDS.] If 
        an issuer fails to notify the department before the last Monday 
        in December of issuance of obligations pursuant to an allocation 
        received for a manufacturing small issue bond project, the 
        allocation is canceled and the bonding authority is allocated to 
        the department of finance for reallocation under section 
        474A.091, subdivision 6. 
           Sec. 12.  Minnesota Statutes 1994, section 474A.091, 
        subdivision 3, is amended to read: 
           Subd. 3.  [ALLOCATION PROCEDURE.] (a) The commissioner 
        shall allocate available bonding authority under this section on 
        the Monday of every other week beginning with the first Monday 
        in August through and on the last Monday in November.  
        Applications for allocations must be received by the department 
        by the Monday preceding the Monday on which allocations are to 
        be made.  If a Monday falls on a holiday, the allocation will be 
        made or the applications must be received by the next business 
        day after the holiday.  
           (b) On or before September 1, allocations shall be awarded 
        from the unified pool in the following order of priority: 
           (1) applications for enterprise zone facility bonds; 
           (2) applications for small issue bonds; 
           (3) applications for residential rental project bonds 
        mortgage bonds; 
           (4) applications for public facility projects funded by 
        public facility bonds; 
           (5) applications for redevelopment bonds; 
           (6) applications for mortgage bonds residential rental 
        project bonds; and 
           (7) applications for governmental bonds. 
           Allocations for residential rental projects may only be 
        made during the first allocation in August.  The amount of 
        allocation provided to an issuer for a specific manufacturing 
        project will be based on the number of points received for the 
        proposed project under the scoring system under section 474A.045.
        Proposed manufacturing projects that receive 50 points or more 
        are eligible for all of the proposed allocation.  Proposed 
        manufacturing projects that receive less than 50 points under 
        section 474A.045 are only eligible to receive a proportionally 
        reduced share of the proposed authority, based upon the number 
        of points received.  If there are two or more applications for 
        manufacturing projects from the unified pool and there is 
        insufficient bonding authority to provide allocations for all 
        manufacturing projects in any one allocation period, the 
        available bonding authority shall be awarded based on the number 
        of points awarded a project under section 474A.045 with those 
        projects receiving the greatest number of points receiving 
        allocation first. 
           (c)(1) On the first Monday in August, $5,000,000 of bonding 
        authority is reserved within the unified pool for agricultural 
        development bond loan projects of the Minnesota rural finance 
        authority and $20,000,000 of bonding authority or an amount 
        equal to the total annual amount of bonding authority allocated 
        to the small issue pool under section 474A.03, subdivision 1, 
        less the amount allocated to issuers from the small issue pool 
        for that year, whichever is less, is reserved within the unified 
        pool for small issue bonds.  On the first Monday in September, 
        $2,500,000 of bonding authority or an amount equal to the total 
        annual amount of bonding authority allocated to the public 
        facilities pool under section 474A.03, subdivision 1, less the 
        amount allocated to issuers from the public facilities pool for 
        that year, whichever is less, is reserved within the unified 
        pool for public facility bonds.  If sufficient bonding authority 
        is not available to reserve the required amounts for 
        manufacturing projects and agricultural development bond loan 
        projects, the remaining available bonding authority must be 
        distributed between the two reservations on a pro rata basis, 
        based upon the amounts each would have received if sufficient 
        authority was available. 
           (2) The total amount of allocations for mortgage bonds from 
        the housing pool and the unified pool may not exceed: 
           (i) $10,000,000 for any one city; or 
           (ii) $20,000,000 for any number of cities in any one county.
           An allocation for mortgage bonds may be used for mortgage 
        credit certificates. 
           After September 1, allocations shall be awarded from the 
        unified pool only for the following types of qualified bonds:  
        small issue bonds, public facility bonds to finance publicly 
        owned facility projects, and enterprise zone facility bonds. 
           (d) If there is insufficient bonding authority to fund all 
        projects within any qualified bond category, allocations shall 
        be awarded by lot unless otherwise agreed to by the respective 
        issuers.  If an application is rejected, the commissioner must 
        notify the applicant and return the application deposit to the 
        applicant within 30 days unless the applicant requests in 
        writing that the application be resubmitted.  The granting of an 
        allocation of bonding authority under this section must be 
        evidenced by issuance of a certificate of allocation. 
           Sec. 13.  Minnesota Statutes 1994, section 474A.091, 
        subdivision 5, is amended to read: 
           Subd. 5.  [RETURN OF ALLOCATION; DEPOSIT REFUND.] (a) If an 
        issuer that receives an allocation under this section determines 
        that it will not issue obligations equal to all or a portion of 
        the allocation received under this section within 90 120 days of 
        the allocation or within the time period permitted by federal 
        tax law, whichever is less, the issuer must notify the 
        department.  If the issuer notifies the department or the 90-day 
        120-day period since allocation has expired prior to the last 
        Monday in November, the amount of allocation is canceled and 
        returned for reallocation through the unified pool.  If the 
        issuer notifies the department on or after the last Monday in 
        November, the amount of allocation is canceled and returned for 
        reallocation to the Minnesota housing finance agency. 
           (b) An issuer that returns for reallocation all or a 
        portion of an allocation received under this section within 90 
        120 days of the allocation shall receive within 30 days a refund 
        equal to:  
           (1) one-half of the application deposit for the amount of 
        bonding authority returned within 30 days of receiving the 
        allocation; 
           (2) one-fourth of the application deposit for the amount of 
        bonding authority returned between 31 and 60 days of receiving 
        the allocation; and 
           (3) one-eighth of the application deposit for the amount of 
        bonding authority returned between 61 and 90 120 days of 
        receiving the allocation. 
           (c) No refund of the application deposit shall be available 
        for allocations returned on or after the last Monday in November.
        This subdivision does not apply to the Minnesota housing finance 
        agency, or the Minnesota rural finance authority. 
           (d) Notwithstanding paragraph (a), the commissioner shall 
        extend the 90-day allocation period for an additional 30 days if 
        the issuer applies for an extension and submits an amount equal 
        to one-quarter of one percent of the allocation with the 
        application for an allocation, provided that the 30 days does 
        not extend the allocation period beyond the last Monday in 
        November. 
           Sec. 14.  Minnesota Statutes 1994, section 474A.131, 
        subdivision 2, is amended to read: 
           Subd. 2.  [CARRYFORWARD NOTICE.] If an issuer intends to 
        carry forward an allocation received under this chapter, it must 
        notify the department in writing before the last Monday of 
        December.  If the written notice of carryforward is not provided 
        within the time required, one-quarter of the amount of the 
        application deposit eligible for refund upon filing of the 
        notice of issue under this section is forfeited.  
           Sec. 15.  [TRANSFER.] 
           Any remaining balance of bonding authority in the small 
        issue pool on the effective date of this section, up to and 
        including $20,000,000 of bonding authority, is transferred from 
        the small issue pool to the housing pool for use pursuant to 
        Minnesota Statutes, section 474A.061, subdivision 2a, except 
        that the Minnesota housing finance agency may accept 
        applications between June 1, 1995, and June 7, 1995. 
           Sec. 16.  [REPEALER.] 
           Minnesota Statutes 1994, sections 462C.02, subdivision 2; 
        462C.03, subdivisions 1 and 5; and 462C.04, subdivision 1, are 
        repealed. 
           Sec. 17.  [EFFECTIVE DATE.] 
           Sections 8 and 15 are effective the day following final 
        enactment, provided that section 8, paragraph (g), applies to 
        allocations made on or after the day following final enactment. 
        Section 12 is effective January 1, 1996. 
           Presented to the governor May 12, 1995 
           Signed by the governor May 15, 1995, 10:04 a.m.

700 State Office Building, 100 Rev. Dr. Martin Luther King Jr. Blvd., St. Paul, MN 55155 ♦ Phone: (651) 296-2868 ♦ TTY: 1-800-627-3529 ♦ Fax: (651) 296-0569