HF 2901

03/13/25   REVISOR  MS/KR  25-04862
This Document can be made available
in alternative formats upon request  State of Minnesota
  HOUSE OF REPRESENTATIVES
  NINETY-FOURTH SESSION
  H. F. No.   2901
03/27/2025     Authored by Rehrauer, Momanyi-Hiltsley, Norris, Freiberg, Xiong and others
  The bill was read for the first time and referred to the Committee on Housing Finance and Policy
1.1A bill for an act
1.2relating to housing; expanding allowable uses of funds in the Minnesota housing
1.3tax credit contribution account to include funding supportive services in supportive
1.4housing; amending Minnesota Statutes 2024, section 462A.40, subdivision 2.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6Section 1. Minnesota Statutes 2024, section 462A.40, subdivision 2, is amended to read:
1.7Subd. 2. Use of funds; grant and loan program. (a) The agency may award grants and
1.8loans to be used for multifamily and single family developments for persons and families
1.9of low and moderate income. Allowable use of the funds include: gap financing, as defined
1.10in section 462A.33, subdivision 1; new construction; acquisition; rehabilitation; demolition
1.11or removal of existing structures; construction financing; permanent financing; interest rate
1.12reduction; services enumerated in section 462A.37, subdivision 1, paragraph (k), in existing
1.13supportive housing as defined in that paragraph; and refinancing.
1.14(b) The agency may give preference for grants and loans to comparable proposals that
1.15include regulatory changes or waivers that result in identifiable cost avoidance or cost
1.16reductions, including but not limited to increased density, flexibility in site development
1.17standards, or zoning code requirements.
Section 1.  1