Purpose

• Add new reporting requirements to the Housing Finance program to track contractor participation by specific business groups.
• In addition to existing information on compliance, the bill requires data on veteran-owned small businesses and LGBTQ-owned businesses for projects financed under Minnesota Statutes chapter 462A.
• Define LGBTQ-owned businesses as those certified by the National LGBT Chamber of Commerce.

Main Provisions

• The commissioner (agency responsible for housing finance) must collect contractor data for:
  • veteran-owned small businesses (as defined in section 16C.16 subdivision 6a), and
  • LGBTQ-owned businesses (as defined by NGLCC certification).
• This data collection runs alongside information already collected for certificates of compliance under section 363A.36.
• The data collected will be treated as public data under this section.
• By February 1 of each even-numbered year, the commissioner must submit a report to the chairs and ranking minority members of the legislative committees with jurisdiction over housing finance.
• The report must cover the public data collected in the previous calendar year and, at minimum, include the total number and dollar amount of all contracts and subcontracts for each categorized business group.

Data and Reporting Details

• Source data come from projects receiving financing under the housing finance chapter.
• The report focuses on the performance and participation of two targeted business categories: veteran-owned small businesses and LGBTQ-owned businesses.
• The report emphasizes transparency by making the data public and by providing concrete counts and dollar values for contracts and subcontracts in each category.

Significance and Changes to Law

• Expands the existing reporting framework within Minnesota Statutes chapter 462A to include diversity-focused contractor data.
• Shifts or increases accountability by requiring biannual public reports on specific categories of contractors.
• May influence policy discussions about contractor diversity and the participation of veteran-owned and LGBTQ-owned businesses in state-financed housing projects.

Compliance and Oversight

• The commissioner is the responsible official for collecting the data and producing the required biannual report.
• Reports are directed to leadership in the legislature (chairs and ranking minority members) with jurisdiction over housing finance.

Relevant Terms - Housing Finance Agency - Minnesota Statutes chapter 462A - certificate of compliance - section 363A.36 - contractor data - veteran-owned small businesses - section 16C.16 subdivision 6a - LGBTQ-owned businesses - National LGBT Chamber of Commerce (NGLCC) certification - public data - even-numbered year reporting - February 1 deadline - contracts and subcontracts - legislative committees with jurisdiction over housing finance