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