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SF2237 (Legislative Session 94 (2025-2026))

Greater Minnesota Housing Infrastructure program bond issuance and appropriation

Related bill: HF1709

AI Generated Summary

Purpose

  • The bill aims to support housing development in Greater Minnesota by funding the Greater Minnesota Housing Infrastructure grant program.
  • It does this by transferring money between state funds and authorizing the sale of state bonds to fund the transfer.

Main Provisions

  • Subdivision 1 – Appropriation:
    • In fiscal year 2026, $4,000,000 is transferred from the bond proceeds fund to the housing development fund.
    • In fiscal year 2026, $4,000,000 is appropriated from the housing development fund to the Minnesota Housing Finance Agency (MHFA) for the Greater Minnesota Housing Infrastructure grant program (under Minnesota Statutes section 462A.395).
  • Subdivision 2 – Bond sale:
    • The Commissioner of Management and Budget shall sell and issue state bonds up to $4,000,000 to provide the money transferred from the bond proceeds fund.
    • The bond sale is conducted under Minnesota Statutes sections 16A.631 to 16A.675 and in accordance with the Minnesota Constitution, Article XI, sections 4 to 7.

Financial Mechanisms and Implementation

  • The bill creates and uses a bond financing mechanism (up to $4,000,000) to support the grant program.
  • It specifies the flow of funds: bond proceeds fund → housing development fund → MHFA’s Greater Minnesota Housing Infrastructure grant program.
  • It references specific statutory authorities and constitutional provisions guiding the bond sale.

Impact on Existing Law

  • Adds a targeted appropriation and bonding authority to fund the Greater Minnesota Housing Infrastructure grant program.
  • Integrates the new funding path and bond issuance within existing legal frameworks (sections 16A.631–16A.675 and Constitution Article XI).

Significance

  • This bill formalizes a dedicated funding stream and bonding plan to support housing infrastructure projects in Greater Minnesota, potentially expanding available grants through MHFA for related infrastructure improvements.

Relevant Terms - Greater Minnesota Housing Infrastructure program - Minnesota Housing Finance Agency (MHFA) - housing development fund - bond proceeds fund - bond sale / bonds - fiscal year 2026 - appropriation - Minnesota Statutes section 462A.395 - Minnesota Statutes sections 16A.631 to 16A.675 - Minnesota Constitution Article XI sections 4 to 7 - transfer of funds - grant program

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 06, 2025SenateActionIntroduction and first reading
March 06, 2025SenateActionReferred toHousing and Homelessness Prevention
SenateActionSee

Citations

 
[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "References Minnesota Statutes section 462A.395, which governs the Greater Minnesota Housing Infrastructure grant program administered by the Minnesota Housing Finance Agency.",
      "modified": []
    },
    "citation": "462A.395",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "References Minnesota Statutes sections 16A.631 through 16A.675 governing state bond issuance and related procedures.",
      "modified": []
    },
    "citation": "16A.631 to 16A.675",
    "subdivision": ""
  }
]

Progress through the legislative process

17%
In Committee

Sponsors

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