This bill amends a previous law related to the Highrise Sprinkler System Grant Program in Minnesota. The key provisions of the bill include:

1. Modification of Eligibility Criteria:

   • Expands eligibility to existing residential buildings that are either: 1) At least 75 feet or more above the lowest fire department vehicle access level, or
     2) Seven or more stories in height.
     
   • At least two-thirds of the units in an eligible building must be affordable to households earning 60% or less of the area median income.

2. Grant and Loan Program:

   • The Minnesota Housing Finance Agency will provide grants and loans to building owners for installing sprinkler systems and, if necessary, for relocating residents during installation.
     
   • Priority will be given to nonprofit applicants.
     
   • The maximum grant per building is $2,000,000.
     
   • Grant recipients must provide matching funds:
     
     • Nonprofits: 25% match required
       
     • For-profits: 50% match required

3. Funding Allocation:

   • $10 million will be transferred from the general fund to the housing development fund in fiscal year 2026 (one-time transfer).
     
   • $10 million will then be appropriated from the housing development fund to the Housing Finance Agency for the sprinkler system program (one-time appropriation).
     

Overall, this bill seeks to enhance fire safety in highrise residential buildings, particularly those that serve lower-income residents, by funding the installation of sprinkler systems.