Purpose of the Bill

The purpose of this bill is to ensure that any proposed legislation that could significantly increase the cost of residential construction or remodeling is given proper scrutiny to assess its financial impact on housing.

Main Provisions

• The bill mandates that any proposed law which would add $3,000 or more to the cost of constructing or remodeling a housing unit must be reviewed by the legislative committees responsible for housing finance and policy.
• This requirement provides a check to ensure that the financial implications of such regulations are carefully considered before implementation.

Significant Changes to Existing Law

• This bill introduces a new procedural requirement for certain housing-related bills, adding a layer of oversight to potentially costly regulations. It does not amend existing statutes but proposes a new section in Minnesota Statutes Chapter 3.

Relevant Terms

cost of residential construction, remodeling costs, housing finance, housing policy, legislative committees, financial impact on housing