as introduced - 93rd Legislature (2023 - 2024) Posted on 02/26/2024 02:21pm
A bill for an act
relating to housing; modifying the Greater Minnesota Housing Infrastructure
program; appropriating money for the Greater Minnesota Housing Infrastructure
program; authorizing the sale and issuance of state bonds; amending Minnesota
Statutes 2023 Supplement, section 462A.395, subdivision 5.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2023 Supplement, section 462A.395, subdivision 5, is
amended to read:
A city may receive no more than deleted text begin $30,000deleted text end new text begin $40,000new text end
per lot for single-family, duplex, triplex, or fourplex housing developed and no more than
$180,000 per lot for multifamily housing with more than four units per building. A city may
receive no more than $500,000 in two years for one or more housing developments.
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This section is effective the day following final enactment.
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$20,000,000 is appropriated from the bond proceeds
fund to the Minnesota Housing Finance Agency for transfer to the housing development
fund for the Greater Minnesota Housing Infrastructure grant program under Minnesota
Statutes, section 462A.395.
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To provide the money appropriated in this section from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $20,000,000 in the manner, upon the terms, and with the effect
prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota
Constitution, article XI, sections 4 to 7.
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This section is effective the day following final enactment.
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