| 1 | 1 | | 1.1 A bill for an act |
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| 2 | 2 | | 1.2 relating to housing; providing credit reporting option to tenants; appropriating |
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| 3 | 3 | | 1.3 money for grants to landlords to assist with credit reporting; permitting the |
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| 4 | 4 | | 1.4 collection of certain data from landlords awarded grants; requiring a report; |
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| 5 | 5 | | 1.5 proposing coding for new law in Minnesota Statutes, chapter 504B. |
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| 6 | 6 | | 1.6BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: |
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| 7 | 7 | | 1.7 Section 1. [504B.247] CREDIT REPORTING REQUIRED. |
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| 8 | 8 | | 1.8 A landlord who has more than ten residential rental units must offer tenants the option |
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| 9 | 9 | | 1.9of having their on-time rent payments reported using a rent payment reporting service that |
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| 10 | 10 | | 1.10allows the landlord to submit the renters' on-time monthly payments to credit bureaus for |
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| 11 | 11 | | 1.11inclusion in the calculation of a consumer credit score. A renter cannot be required to |
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| 12 | 12 | | 1.12participate in a rent reporting program. A renter cannot be charged for a rent reporting |
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| 13 | 13 | | 1.13program. A renter who has agreed to do rent payment reporting can opt out of rent payment |
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| 14 | 14 | | 1.14reporting at any time, and the landlord must remove the tenant from rent payment reporting |
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| 15 | 15 | | 1.15within 30 days of the request. |
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| 16 | 16 | | 1.16 Sec. 2. APPROPRIATION; GRANTS FOR TENANT CREDIT REPORTING. |
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| 17 | 17 | | 1.17 (a) $500,000 in fiscal year 2026 and $500,000 in fiscal year 2027 are appropriated from |
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| 18 | 18 | | 1.18the general fund to the commissioner of the Minnesota Housing Finance Agency for grants |
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| 19 | 19 | | 1.19to landlords to assist with the cost of providing credit reporting required under Minnesota |
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| 20 | 20 | | 1.20Statutes, section 504B.247. Grants may be awarded for the cost of services, the purchase |
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| 21 | 21 | | 1.21of technology and software, and administrative costs directly related to the required credit |
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| 22 | 22 | | 1.22reporting of on-time rent payments. Priority for grants under this section must be given to |
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| 23 | 23 | | 1Sec. 2. |
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| 24 | 24 | | 25-03857 as introduced02/25/25 REVISOR MS/NS |
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| 25 | 25 | | SENATE |
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| 26 | 26 | | STATE OF MINNESOTA |
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| 27 | 27 | | S.F. No. 2807NINETY-FOURTH SESSION |
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| 28 | 28 | | (SENATE AUTHORS: MOHAMED) |
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| 29 | 29 | | OFFICIAL STATUSD-PGDATE |
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| 30 | 30 | | Introduction and first reading03/20/2025 |
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| 31 | 31 | | Referred to Judiciary and Public Safety 2.1landlords with units occupied by tenants who have income at or below 50 percent of the |
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| 32 | 32 | | 2.2area median income. |
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| 33 | 33 | | 2.3 (b) The Minnesota Housing Finance Agency must collect data from grantees, and any |
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| 34 | 34 | | 2.4other willing participants, on the participation in and effectiveness of the on-time rent |
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| 35 | 35 | | 2.5reporting requirements. By March 1, 2027, the commissioner of the Minnesota Housing |
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| 36 | 36 | | 2.6Finance Agency must prepare a report and send it to the chairs and ranking minority members |
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| 37 | 37 | | 2.7of the legislative committees with jurisdiction over housing. |
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| 38 | 38 | | 2Sec. 2. |
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| 39 | 39 | | 25-03857 as introduced02/25/25 REVISOR MS/NS |
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