| 1 | 1 | | 1.1 A bill for an act |
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| 2 | 2 | | 1.2 relating to housing; transferring money to the housing development fund; |
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| 3 | 3 | | 1.3 appropriating money for the manufactured home down payment assistance program |
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| 4 | 4 | | 1.4 and the manufactured home park cooperative purchase program. |
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| 5 | 5 | | 1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: |
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| 6 | 6 | | 1.6 Section 1. TRANSFER; HOUSING DEVELOPMENT FUND. |
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| 7 | 7 | | 1.7 $10,000,000 in fiscal year 2026 is transferred from the general fund to the housing |
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| 8 | 8 | | 1.8development fund. This is a onetime transfer. |
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| 9 | 9 | | 1.9 Sec. 2. APPROPRIATION; MANUFACTURED HOME DOWN PAYMENT |
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| 10 | 10 | | 1.10ASSISTANCE PROGRAM. |
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| 11 | 11 | | 1.11 $5,000,000 in fiscal year 2026 is appropriated from the housing development fund to |
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| 12 | 12 | | 1.12the commissioner of the Housing Finance Agency for a grant to NeighborWorks Home |
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| 13 | 13 | | 1.13Partners to fund and administer a manufactured home down payment assistance program |
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| 14 | 14 | | 1.14and to fund the manufactured home financing product created under Laws 2023, chapter |
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| 15 | 15 | | 1.1537, article 1, section 2, subdivision 25, as amended by Laws 2024, chapter 127, article 14, |
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| 16 | 16 | | 1.16section 10. Money may be used in conjunction with other assistance that the eligible home |
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| 17 | 17 | | 1.17buyer may qualify for and the loan placed in any priority position. |
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| 18 | 18 | | 1.18 Sec. 3. APPROPRIATION; MANUFACTURED HOME PARK COOPERATIVE |
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| 19 | 19 | | 1.19PURCHASE PROGRAM. |
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| 20 | 20 | | 1.20 (a) $5,000,000 in fiscal year 2026 is appropriated from the housing development fund |
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| 21 | 21 | | 1.21to the commissioner of the Housing Finance Agency for a grant to Northcountry Cooperative |
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| 22 | 22 | | 1Sec. 3. |
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| 23 | 23 | | REVISOR MS/EN 25-0423403/04/25 |
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| 24 | 24 | | State of Minnesota |
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| 25 | 25 | | This Document can be made available |
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| 26 | 26 | | in alternative formats upon request |
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| 27 | 27 | | HOUSE OF REPRESENTATIVES |
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| 28 | 28 | | H. F. No. 2461 |
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| 29 | 29 | | NINETY-FOURTH SESSION |
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| 30 | 30 | | Authored by Norris, Feist, Agbaje and Rehrauer03/17/2025 |
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| 31 | 31 | | The bill was read for the first time and referred to the Committee on Housing Finance and Policy 2.1Foundation and its wholly controlled affiliated entities to leverage a loan fund to provide |
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| 32 | 32 | | 2.2financial assistance for the conversion of manufactured home parks to cooperative ownership. |
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| 33 | 33 | | 2.3 (b) Financial assistance may include direct loans, interest rate subsidy loans, loan |
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| 34 | 34 | | 2.4guarantees, deferred or forgivable loans, or other loan structures that may facilitate the |
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| 35 | 35 | | 2.5conversion to cooperative ownership and that may be placed in any priority position. |
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| 36 | 36 | | 2.6 (c) A deed purchased with a loan under this section must contain a covenant running |
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| 37 | 37 | | 2.7with the land requiring that the land be used as a manufactured home park for 30 years from |
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| 38 | 38 | | 2.8the date of purchase. |
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| 39 | 39 | | 2.9 (d) For the purposes of this section, the term "manufactured home" has the meaning |
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| 40 | 40 | | 2.10given in Minnesota Statutes, section 327B.01, subdivision 13, and the term "manufactured |
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| 41 | 41 | | 2.11home park" has the meaning given in Minnesota Statutes, section 327.14, subdivision 3. |
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| 42 | 42 | | 2Sec. 3. |
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| 43 | 43 | | REVISOR MS/EN 25-0423403/04/25 |
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