Minnesota 2025-2026 Regular Session

Minnesota House Bill HF1340 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	1.1 A bill for an act
2	2	1.2 relating to housing; allowing use of housing infrastructure bonds on adaptive reuse
3	3	1.3 to develop supportive housing and permanent housing for households at or below
4	4	1.4 50 percent of the area median income; amending Minnesota Statutes 2024, section
5	5	1.5 462A.37, subdivision 2.
6	6	1.6BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
7	7	1.7 Section 1. Minnesota Statutes 2024, section 462A.37, subdivision 2, is amended to read:
8	8	1.8 Subd. 2.Authorization.(a) The agency may issue up to $30,000,000 in aggregate
9	9	1.9principal amount of housing infrastructure bonds in one or more series to which the payment
10	10	1.10made under this section may be pledged. The housing infrastructure bonds authorized in
11	11	1.11this subdivision may be issued to fund loans, or grants for the purposes of clauses (4) and
12	12	1.12(7), on terms and conditions the agency deems appropriate, made for one or more of the
13	13	1.13following purposes:
14	14	1.14 (1) to finance the costs of the construction, acquisition, adaptive reuse, and rehabilitation
15	15	1.15of supportive housing where at least 50 percent of units are set aside for individuals and
16	16	1.16families who are without a permanent residence;
17	17	1.17 (2) to finance the costs of the acquisition and rehabilitation of foreclosed or abandoned
18	18	1.18housing to be used for affordable rental housing or for affordable home ownership and the
19	19	1.19costs of new construction of rental housing on abandoned or foreclosed property where the
20	20	1.20existing structures will be demolished or removed;
21	21	1.21 (3) to finance that portion of the costs of acquisition of property that is attributable to
22	22	1.22the land to be leased by community land trusts to low- and moderate-income home buyers;
23	23	1Section 1.
24	24	REVISOR MS/AC 25-0266201/23/25
25	25	State of Minnesota
26	26	This Document can be made available
27	27	in alternative formats upon request
28	28	HOUSE OF REPRESENTATIVES
29	29	H. F. No. 1340
30	30	NINETY-FOURTH SESSION 2.1 (4) to finance the acquisition, improvement, and infrastructure of manufactured home
31	31	2.2parks under section 462A.2035, subdivision 1b;
32	32	2.3 (5) to finance the costs of acquisition, rehabilitation, adaptive reuse, or new construction
33	33	2.4of senior housing;
34	34	2.5 (6) to finance the costs of acquisition, rehabilitation, and replacement of federally assisted
35	35	2.6rental housing and for the refinancing of costs of the construction, acquisition, and
36	36	2.7rehabilitation of federally assisted rental housing, including providing funds to refund, in
37	37	2.8whole or in part, outstanding bonds previously issued by the agency or another government
38	38	2.9unit to finance or refinance such costs;
39	39	2.10 (7) to finance the costs of acquisition, rehabilitation, adaptive reuse, or new construction
40	40	2.11of single-family housing;
41	41	2.12 (8) to finance the costs of construction, acquisition, adaptive reuse, and rehabilitation
42	42	2.13of permanent housing that is affordable to households with incomes at or below 50 percent
43	43	2.14of the area median income for the applicable county or metropolitan area as published by
44	44	2.15the Department of Housing and Urban Development, as adjusted for household size; and
45	45	2.16 (9) to finance the costs of construction, acquisition, rehabilitation, conversion, and
46	46	2.17development of cooperatively owned housing created under chapter 308A, 308B, or 308C
47	47	2.18that is affordable to low- and moderate-income households.
48	48	2.19 (b) Among comparable proposals for permanent supportive housing, preference shall
49	49	2.20be given to permanent supportive housing for veterans and other individuals or families
50	50	2.21who:
51	51	2.22 (1) either have been without a permanent residence for at least 12 months or at least four
52	52	2.23times in the last three years; or
53	53	2.24 (2) are at significant risk of lacking a permanent residence for 12 months or at least four
54	54	2.25times in the last three years.
55	55	2.26 (c) Among comparable proposals for senior housing, the agency must give priority to
56	56	2.27requests for projects that:
57	57	2.28 (1) demonstrate a commitment to maintaining the housing financed as affordable to
58	58	2.29senior households;
59	59	2.30 (2) leverage other sources of funding to finance the project, including the use of
60	60	2.31low-income housing tax credits;
61	61	2Section 1.
62	62	REVISOR MS/AC 25-0266201/23/25 3.1 (3) provide access to services to residents and demonstrate the ability to increase physical
63	63	3.2supports and support services as residents age and experience increasing levels of disability;
64	64	3.3and
65	65	3.4 (4) include households with incomes that do not exceed 30 percent of the median
66	66	3.5household income for the metropolitan area.
67	67	3.6 (d) To the extent practicable, the agency shall balance the loans made between projects
68	68	3.7in the metropolitan area and projects outside the metropolitan area. Of the loans made to
69	69	3.8projects outside the metropolitan area, the agency shall, to the extent practicable, balance
70	70	3.9the loans made between projects in counties or cities with a population of 20,000 or less,
71	71	3.10as established by the most recent decennial census, and projects in counties or cities with
72	72	3.11populations in excess of 20,000.
73	73	3.12 (e) Among comparable proposals for permanent housing, the agency must give preference
74	74	3.13to projects that will provide housing that is affordable to households at or below 30 percent
75	75	3.14of the area median income.
76	76	3.15 (f) If a loan recipient uses the loan for new construction as defined by the agency on a
77	77	3.16building containing more than four units, the loan recipient must construct, convert, or
78	78	3.17otherwise adapt the building to include:
79	79	3.18 (1) the greater of: (i) at least one unit; or (ii) at least five percent of units that are
80	80	3.19accessible units, and each accessible unit includes at least one roll-in shower, water closet,
81	81	3.20and kitchen work surface meeting the requirements of section 1002 of the current State
82	82	3.21Building Code Accessibility Provisions for Dwelling Units in Minnesota; and
83	83	3.22 (2) the greater of: (i) at least one unit; or (ii) at least five percent of units that are
84	84	3.23sensory-accessible units that include:
85	85	3.24 (A) soundproofing between shared walls for first and second floor units;
86	86	3.25 (B) no florescent lighting in units and common areas;
87	87	3.26 (C) low-fume paint;
88	88	3.27 (D) low-chemical carpet; and
89	89	3.28 (E) low-chemical carpet glue in units and common areas.
90	90	3.29Nothing in this paragraph relieves a project funded by the agency from meeting other
91	91	3.30applicable accessibility requirements.
92	92	3Section 1.
93	93	REVISOR MS/AC 25-0266201/23/25