Minnesota 2023-2024 Regular Session

Minnesota House Bill HF1874

Introduced
2/16/23  

Caption

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.

Impact

This legislation is expected to bring significant changes to the provision of housing-related services across Minnesota. By increasing the agency’s debt limit, House File 1874 will enable it to finance a wider range of housing projects, including rehabilitation loans for low-income families and investments in supportive housing facilities. The expansion of eligibility requirements is designed to encompass a broader audience, facilitating access to funding for traditionally underserved demographics, including seniors and individuals facing housing disparities. This could significantly improve housing conditions and access to stable housing for these groups.

Summary

House File 1874, also known as the Minnesota Housing Finance Agency bill, aims to enhance the state's housing landscape through various provisions related to funding and the authority of the Minnesota Housing Finance Agency. The bill proposes to adopt new policy provisions that expand the agency's capability to issue bonds, thereby raising its debt limit and improving its ability to finance affordable housing initiatives. The legislation also proposes to broaden eligibility requirements and intended uses for agency funding, specifically targeting low and moderate-income households as well as senior citizens seeking enhancements to their housing situations.

Contention

Despite its potential benefits, the bill has faced some contention in discussions about the allocation of resources and whether it sufficiently addresses the needs of every community within Minnesota. Some legislators and stakeholders have raised concerns about the effectiveness of the financing mechanisms proposed, questioning if they will adequately address the housing crisis in economically distressed areas. Additionally, while the bill emphasizes support for organizations like community land trusts, advocacy for specific income thresholds and qualifications may vary across the board, prompting debate about fairness and accessibility in housing assistance efforts.

Companion Bills

MN SF1372

Similar To Minnesota Housing Finance Agency policy provisions adoption

Previously Filed As

MN SF1372

Minnesota Housing Finance Agency policy provisions adoption

MN HF1667

Eligible uses for housing infrastructure bonds 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 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 HF743

Grant programs created to fund municipal housing projects and initiatives, excise tax imposed, housing and redevelopment authority maximum levy amount increased, housing infrastructure bonds authorized to finance affordable housing to low-income households, workforce housing added as eligible project for housing and redevelopment authorities, bonds issued, and money appropriated.

MN SF2644

Housing infrastructure bonds issuance authorization provision and appropriation

MN SF203

Housing infrastructure bonds issuance authorization and appropriation

Similar Bills

MN SF1372

Minnesota Housing Finance Agency policy provisions adoption

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 SF4158

Omnibus Housing supplemental appropriations

MN SF2566

Omnibus Housing appropriations

MN HF302

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

MN SF1094

Housing state bonds sale and issuance authorization

MN HF2335

Housing finance and policy bill.

MN SF2601

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