| 1 | 1 | | 1.1 A bill for an act |
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| 2 | 2 | | 1.2 relating to housing; modifying the housing affordability fund in fiscal years 2026 |
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| 3 | 3 | | 1.3 and 2027. |
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| 4 | 4 | | 1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: |
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| 5 | 5 | | 1.5 Section 1. HOUSING AFFORDABILITY FUND; FISCAL YEARS 2026 AND 2027 |
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| 6 | 6 | | 1.6ALLOCATION. |
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| 7 | 7 | | 1.7 (a) At least 25 percent of the allocations from the Housing Finance Agency's housing |
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| 8 | 8 | | 1.8affordability fund, or Pool 3, in fiscal years 2026 and 2027 shall be for distribution to the |
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| 9 | 9 | | 1.9workforce and affordable homeownership development program under Minnesota Statutes, |
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| 10 | 10 | | 1.10section 462A.38. This amount shall not be used for loans or other financing programs. No |
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| 11 | 11 | | 1.11money from the allocation under this paragraph may be used to administer this program. |
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| 12 | 12 | | 1.12 (b) By June 30, 2026, and June 30, 2027, the commissioner of the Housing Finance |
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| 13 | 13 | | 1.13Agency shall report to the legislature the following for the allocation of housing affordability |
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| 14 | 14 | | 1.14funds under paragraph (a) for: |
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| 15 | 15 | | 1.15 (1) the number and amount of grants issued for single-family homes, townhomes, and |
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| 16 | 16 | | 1.16manufactured homes; |
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| 17 | 17 | | 1.17 (2) the number and amount of grants issued by income categories; and |
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| 18 | 18 | | 1.18 (3) the number and amount of grants issued by county. |
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| 19 | 19 | | 1.19 (c) Nothing in this section shall impair the agency from using funds in Pool 3 to satisfy |
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| 20 | 20 | | 1.20its obligations to holders of bonds secured by the general obligation pledge of the agency. |
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| 21 | 21 | | 1Section 1. |
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| 22 | 22 | | 25-04368 as introduced03/03/25 REVISOR MS/RC |
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| 23 | 23 | | SENATE |
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| 24 | 24 | | STATE OF MINNESOTA |
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| 25 | 25 | | S.F. No. 2678NINETY-FOURTH SESSION |
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| 26 | 26 | | (SENATE AUTHORS: DRAHEIM, Pha, Lucero, Putnam and Housley) |
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| 27 | 27 | | OFFICIAL STATUSD-PGDATE |
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| 28 | 28 | | Introduction and first reading03/17/2025 |
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| 29 | 29 | | Referred to Housing and Homelessness Prevention |
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