This bill seeks to amend Minnesota Statutes 2024, Section 462C.16, Subdivision 1 to authorize housing and redevelopment authorities to establish local housing trust funds. It defines key terms, including:

• Commissioner – Refers to the Minnesota Housing Finance Agency commissioner.
  
• Fund – A local or regional housing trust fund.
  
• Local government – Includes statutory or home rule charter cities, housing and redevelopment authorities, or counties.
  
• Local housing trust fund – A fund created by a local government with dedicated public revenue sources for housing.
  
• Regional housing trust fund – A fund managed through a joint powers agreement between multiple local governments, also supported by designated public revenue sources for housing.
  

The bill was introduced in the Minnesota House of Representatives during the 94th legislative session and referred to the Committee on Housing Finance and Policy for further consideration.