Minnesota 2023-2024 Regular Session

Minnesota House Bill HF1667

Introduced
2/13/23  
Refer
2/13/23  

Caption

Eligible uses for housing infrastructure bonds expanded.

Impact

The expansion of eligible uses for housing infrastructure bonds as proposed in HF1667 is expected to enhance the state’s efforts in providing affordable housing solutions. By allowing funds to be directed towards multifamily rental housing for families whose income is at or below 50% of the area median income, the bill aims to alleviate some of the housing burdens faced by low-income residents. Furthermore, it encourages the development of supportive housing with a preference for projects targeting veterans, thus reflecting the state's commitment to addressing issues of homelessness and housing insecurity among specific demographics.

Summary

HF1667 is a legislative bill aimed at expanding the eligible uses for housing infrastructure bonds within Minnesota. The bill proposes to empower the Minnesota Housing Finance Agency to issue up to $30 million in housing infrastructure bonds to fund various housing projects. The eligibility criteria for these bonds would cover financing for the construction, acquisition, and rehabilitation of supportive housing for homeless individuals and families, as well as affordable rental housing. Notably, the bill emphasizes aiding veterans and families at risk of homelessness, highlighting a significant focus on addressing the needs of vulnerable populations in the state.

Contention

Among the points of contention surrounding HF1667, there are discussions regarding prioritization criteria for funding allocations. The bill specifically states that preference shall be given to projects that demonstrate a commitment to maintaining affordability, leveraging additional funding sources, and providing supportive services as residents age. Critics may argue that the bill's emphasis on certain populations could lead to inequities in the distribution of housing resources, potentially leaving other at-risk groups without sufficient support. It will be crucial for lawmakers to navigate these discussions to ensure comprehensive housing assistance that meets the diverse needs of Minnesota's population.

Companion Bills

MN SF1370

Similar To Building permit processing and fees provisions modifications

Previously Filed As

MN HF1874

Minnesota Housing Finance Agency policy provisions adopted, agency debt limit increased, authority to issue bonds expanded, eligibility requirements and uses for agency funding expanded, and housing infrastructure bond uses expanded.

MN HF302

Eligible use of housing infrastructure bonds added, issuance of housing infrastructure bonds prescribed, and bonds issued.

MN HF4819

Eligible uses of housing infrastructure bonds expanded, recapitalization provided, housing infrastructure program prior appropriation amended, task force established, and reports required.

MN SF4940

Housing infrastructure program appropriation modification, expansion of eligible uses of housing infrastructure bonds, and establishing a task force

MN HF4194

Housing; prior appropriations modified, new programs established and existing programs modified, housing infrastructure bond eligible uses expanded, housing infrastructure bond issuance authorized, working group and task force established, reports required, and money appropriated.

MN SF2601

Housing infrastructure bonds to be issued for veterans housing authorization and appropriation

MN HF2593

Housing infrastructure bonds authorized to be issued for veterans housing, and money appropriated.

MN HF1340

Use of housing infrastructure bonds allowed on adaptive reuse to develop supportive housing and permanent housing for households at or below 50 percent of the area median income.

MN HF2693

Locally controlled housing fund established, allowable uses of housing infrastructure bonds modified, report required, bonds issued, and money appropriated.

MN SF1799

Housing infrastructure bonds usage on adaptive reuse to develop supportive housing and permanent housing for households at or below 50 percent of the area median income authorization provision

Similar Bills

No similar bills found.