HF1605 (Legislative Session 94 (2025-2026))
Rent increases limited in low-income rental projects receiving low-income housing tax credits.
Related bill: SF1652
AI Generated Summary
This bill proposes an amendment to Minnesota Statutes, section 462A.222, to limit rent increases in certain low-income rental projects that receive Low-Income Housing Tax Credits. Specifically, it applies to senior housing projects as defined in section 462A.37, subdivision 1, paragraph (h). The bill restricts rent increases in these rent-restricted units to a percentage that does not exceed:
- The percentage increase in Social Security or Supplemental Security Income (SSI) benefits in the previous 12 months, minus one percent, or
- Zero percent, if that calculation results in a negative number.
The intent of the bill is to prevent large rent increases for low-income seniors living in housing developments supported by federal low-income housing tax credits.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 25, 2025 | House | Floor | Action | Introduction and first reading, referred to | Housing Finance and Policy |
| February 25, 2025 | House | Floor | Action | Introduction and first reading, referred to | Housing Finance and Policy |
| February 26, 2025 | House | Floor | Action | Author added | |
| March 02, 2025 | House | Floor | Action | Author added |
Citations
[
{
"analysis": {
"added": [],
"removed": [],
"summary": "References the definition of seniors for housing project limitations.",
"modified": []
},
"citation": "462A.37",
"subdivision": "subdivision 1"
}
]