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HF2914 (Legislative Session 94 (2025-2026))

Workforce homeownership program funding provided, and money appropriated.

Related bill: SF1711

AI Generated Summary

Purpose of the Bill

The bill aims to address housing issues in Minnesota by providing financial support to the workforce homeownership program. This program is designed to assist with homeownership opportunities for the workforce, supporting affordable housing initiatives in the state.

Main Provisions

  • The bill transfers $30,250,000 each fiscal year (2026, 2027, 2028, and beyond) from the general fund to the housing development fund.
  • These funds are then appropriated to the commissioner of the Minnesota Housing Finance Agency.
  • The appropriated funds are specifically allocated to support the workforce homeownership program as guided by Minnesota Statutes section 462A.38.

Significant Changes to Existing Law

  • The bill establishes consistent funding for the workforce homeownership program by creating an annual financial transfer and appropriation process to ensure the sustainability of the program.

Relevant Terms

workforce homeownership program, housing development fund, Minnesota Housing Finance Agency, affordable housing, fiscal year funding

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 26, 2025HouseFloorActionIntroduction and first reading, referred toHousing Finance and Policy

Citations

 
[
  {
    "analysis": {
      "added": [
        "Specifies appropriation amounts for fiscal years 2026 and 2027."
      ],
      "removed": [
        ""
      ],
      "summary": "This bill allocates funds to the workforce homeownership program under Minnesota Statutes section 462A.38.",
      "modified": [
        "Establishes ongoing funding mechanism from 2028 onwards."
      ]
    },
    "citation": "462A.38",
    "subdivision": ""
  }
]

Sponsors