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SF2730 (Legislative Session 94 (2025-2026))

Statewide affordable housing aids appropriation

Related bill: HF2019

AI Generated Summary

Purpose of the Bill

The bill is intended to provide financial assistance for affordable housing across Minnesota by allocating funds to various jurisdictions, including counties, tier I cities, and Tribal Nations. This aims to support housing affordability and enhance housing aid distribution on a statewide level.

Main Provisions

  • Annual Appropriations:

    • $6,800,000 is appropriated annually from the general fund to the Commissioner of Revenue for payments to counties.
    • $2,000,000 is appropriated annually to tier I cities.
    • $1,200,000 is appropriated annually to eligible Tribal Nations.

  • Additional Temporary Funding:

    • For fiscal years 2024 and 2025, additional appropriations will be made:
    • $8,500,000 for counties.
    • $2,500,000 for tier I cities.
    • $1,500,000 for eligible Tribal Nations.
    • For fiscal years 2026 and 2027, further additional appropriations include:
    • $17,000,000 for counties.
    • $5,000,000 for tier I cities.
    • $3,000,000 for eligible Tribal Nations.

  • Fund Transfers:

    • For the fiscal years 2024 and 2025, funds will be transferred to the Minnesota Housing Finance Agency to increase specific accounts to $2,250,000.

  • Aid Distribution Timing:

    • For 2023, aid computations and distributions can occur later in the year, specifically by August 1 with payments executed by December 26.
    • In 2025, additional aid computations can occur as late as July 15 without certification of the amounts.

Significant Changes to Existing Law

This bill amends Minnesota Statute 477A.36 subdivision 8 by adjusting the financial appropriations from the general fund toward better distributing housing aid. It introduces new temporary fund increases for specified fiscal years along with changes to the timing of aid computation and distribution.

Relevant Terms

affordable housing, appropriations, general fund, counties, tier I cities, Tribal Nations, Minnesota Housing Finance Agency, aid distribution, fiscal year

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 19, 2025SenateFloorActionIntroduction and first reading
March 19, 2025SenateFloorActionReferred toTaxes

Citations

 
[
  {
    "analysis": {
      "added": [
        "Sets new annual appropriations from the general fund to various entities for fiscal years 2024, 2025, 2026, and 2027."
      ],
      "removed": [
        ""
      ],
      "summary": "This bill amends provisions related to statewide affordable housing aids under section 477A.36, subdivision 8.",
      "modified": [
        "Adjusts the funds distribution schedule for counties, tier I cities, and eligible Tribal Nations."
      ]
    },
    "citation": "477A.36",
    "subdivision": "subdivision 8"
  }
]

Sponsors