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HF2148 (Legislative Session 94 (2025-2026))

Locally controlled housing fund established, report required, and money appropriated.

Related bill: SF1913

AI Generated Summary

Purpose of the Bill

This bill seeks to establish a locally controlled housing fund aimed at increasing affordable housing options across Minnesota. The fund is designed to assist cities, counties, tribal entities, and approved housing organizations in various housing projects like acquisition, rehabilitation, and new construction.

Main Provisions

  • Creation of Fund: A new account in the housing development fund will be set up, called the locally controlled housing fund.
  • Eligible Recipients: The fund is available for cities, counties, tribal entities, and approved nonprofit organizations. These recipients can own or partly own housing projects.
  • Project Financing: The money can be used for buying, rehabilitating, or constructing houses. It can also help with various types of financing such as construction or permanent financing and interest rate reductions.
  • Accessibility and Affordability: Housing projects funded should include accessible units as per state codes and cater to mixed-income residents. A significant portion of units must accommodate low to moderate-income families.
  • Use and Management of Funds: A separate revolving loan fund is set up so that loans can continuously support housing projects. Funds can be reinvested once the initial loan is repaid.
  • Restrictions on Sale: Recipients cannot sell their stake in the housing projects without agency approval and must repay any outstanding balance if sold.

Significant Changes

  • The bill introduces new housing support mechanisms under Minnesota's statutes, specifically coded into chapter 462A.
  • It mandates that housing projects do not segregate residents based on income and that tenant protections align with public housing standards.
  • For enforcement and management, the housing finance agency will employ staff specifically for the fund.

Annual Reporting

The commissioner must annually report to relevant legislative committees outlining how funds were utilized and detailing the supported projects.

Relevant Terms

  • Affordable housing
  • Locally controlled housing
  • Revolving loan fund
  • Housing development fund
  • Community land trust
  • Accessibility
  • Mixed-income housing

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 09, 2025HouseFloorActionIntroduction and first reading, referred toHousing Finance and Policy
March 11, 2025HouseFloorActionAuthor added
March 19, 2025HouseFloorActionAuthor added
March 25, 2025HouseFloorActionAuthor added

Citations

 
[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This section defines various terms related to local government housing projects, including the definition of 'city' used in housing statutes.",
      "modified": []
    },
    "citation": "462C.02"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This statute provides definitions and guidelines regarding community land trusts.",
      "modified": []
    },
    "citation": "462A.30"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Refers to the State Building Code Accessibility Provisions for Dwelling Units in Minnesota, outlining requirements for accessibility in dwelling units.",
      "modified": []
    },
    "citation": "1002"
  }
]

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