Purpose of the Bill

The bill intends to support housing initiatives by providing financial resources to an organization. Specifically, it aims to fund homeownership education and financial counseling programs.

Main Provisions

• Funding Transfer: The bill authorizes the transfer of $200,000 each in fiscal years 2026 and 2027 from Minnesota's general fund to the housing development fund. This is a single-time transfer per fiscal year.

• Grant Appropriation: It appropriates the same amount, $200,000 each for fiscal years 2026 and 2027, from the housing development fund to the commissioner of the Housing Finance Agency. This money is intended for a grant to CAPI USA.

• Program Administration: CAPI USA is to use the funds specifically for administering homeownership education and financial counseling programs aimed at assisting individuals with purchasing homes.

Significant Changes

• Introduces new financial support for housing education and counseling, which is not part of ongoing funding and will occur only once per specified fiscal year.

Relevant Terms

CAPI USA, homeownership education, financial counseling, housing development fund, grant, Housing Finance Agency, Minnesota legislature.