HF2445 (Legislative Session 94 (2025-2026))
Minnesota Housing Finance Agency budget established, and money appropriated.
Related bill: SF2298
AI Generated Summary
Purpose of the Bill
The bill aims to establish a budget for the Minnesota Housing Finance Agency for the fiscal years 2026 and 2027. The funds are appropriated to various housing-related programs to support affordable housing, economic development, and assistance for individuals and families in need.
Main Provisions
Total Appropriation: Allocates $82,798,000 each year from the general fund for housing and development programs.
Program-Specific Funding:
- Challenge Program: Allocates funds to economic development and housing projects, with a specific amount set aside for American Indian housing projects.
- Workforce Housing Development: Supports housing development in Greater Minnesota with provisions for income-restricted units and owner-occupied homes.
- Manufactured Home Park Infrastructure Grants: Provides grants for infrastructure improvements in manufactured home parks.
- Workforce Homeownership Program: Supports initiatives to assist with homeownership for the workforce.
- Rent Assistance Program & Housing Trust Fund: Allocates resources for rental assistance programs and contributions to the housing trust fund for various housing-related uses.
- Homework Starts with Home: Directs funds toward programs for homeless and at-risk families with children.
- Rental Assistance for Mentally Ill: Provides housing assistance to individuals and families affected by mental illness.
- Family Homeless Prevention: Offers funding for programs aimed at preventing homelessness.
- Home Ownership Assistance Fund: Works to address disparities in homeownership rates among communities of color and white households.
- Affordable Rental Investment Fund: Finances the acquisition and rehabilitation of affordable rental properties, maintaining low-income affordability restrictions.
- Owner-Occupied and Rental Housing Rehabilitation: Provides resources for rehabilitation projects without rent or income restrictions.
- Homeownership Education: Supports education, counseling, and training programs related to homeownership.
- Capacity Building Grants and Build Wealth MN: Grants for organizational growth and programs supporting financial stability and education.
Significant Changes
- Prioritization and Flexibility: New emphasis on prioritizing housing projects that serve individuals seeking more integrated community living, especially within programs for mentally ill assistance.
- Demographic Data Collection: The agency is tasked with collecting demographic data to better understand and address homeownership disparities.
- Transfer of Funds: Allows flexibility for the commissioner to reallocate funds between various programs to address high-priority needs, ensuring responsiveness to emerging housing challenges.
Relevant Terms
- Minnesota Housing Finance Agency
- Economic Development
- Housing Challenge Program
- American Indian Housing
- Workforce Housing
- Infrastructure Grants
- Rent Assistance
- Homeless Prevention
- Homeownership Disparities
- Affordable Rental Investment
- Rehabilitation Funds
- Financial Literacy
Bill text versions
- Introduction PDF file
Upcoming committee meetings
- Housing Finance and Policy on: April 08, 2025 15:00
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| March 16, 2025 | House | Floor | Action | Introduction and first reading, referred to | Housing Finance and Policy |
Citations
[
{
"analysis": {
"added": [
"Specific allocation for housing projects for American Indians."
],
"removed": [],
"summary": "Appropriation for the economic development and housing challenge program under Minnesota Statutes section 462A.33.",
"modified": []
},
"citation": "462A.33"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "Appropriation for the housing challenge program as specified under Minnesota Statutes section 462A.07 subdivision 14.",
"modified": []
},
"citation": "462A.07 subdivision 14"
},
{
"analysis": {
"added": [
"Allowance for inclusion of a portion of income and rent restricted units."
],
"removed": [],
"summary": "This appropriation is for the Greater Minnesota workforce housing development program under Minnesota Statutes section 462A.39.",
"modified": []
},
"citation": "462A.39"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "Appropriation for manufactured home park infrastructure grants under Minnesota Statutes section 462A.2035 subdivision 1b.",
"modified": []
},
"citation": "462A.2035 subdivision 1b"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "Appropriation for the workforce homeownership program under Minnesota Statutes section 462A.38.",
"modified": []
},
"citation": "462A.38"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "Appropriation for the rent assistance program under Minnesota Statutes section 462A.2095.",
"modified": []
},
"citation": "462A.2095"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "Appropriation for the housing trust fund account created under Minnesota Statutes section 462A.201.",
"modified": []
},
"citation": "462A.201"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "Appropriation for homework starts with home program under Minnesota Statutes section 462A.204 subdivision 8.",
"modified": []
},
"citation": "462A.204 subdivision 8"
},
{
"analysis": {
"added": [
"Prioritization for proposals targeting eligible persons moving to integrated settings."
],
"removed": [],
"summary": "Appropriation for rental housing assistance program under Minnesota Statutes section 462A.2097.",
"modified": []
},
"citation": "462A.2097"
},
{
"analysis": {
"added": [
"Flexibility for new grantees working with advisory committees."
],
"removed": [],
"summary": "Appropriation for family homeless prevention and assistance program under Minnesota Statutes section 462A.204.",
"modified": []
},
"citation": "462A.204"
},
{
"analysis": {
"added": [
"Requirement for information collection on applicants' demographics."
],
"removed": [],
"summary": "Appropriation for the home ownership assistance program under Minnesota Statutes section 462A.21 subdivision 8.",
"modified": []
},
"citation": "462A.21 subdivision 8"
},
{
"analysis": {
"added": [
"Includes financing acquisition and rehabilitation of supportive and naturally affordable housing."
],
"removed": [],
"summary": "Appropriation for affordable rental investment fund program under Minnesota Statutes section 462A.21 subdivision 8b.",
"modified": []
},
"citation": "462A.21 subdivision 8b"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "Reference to making equity takeout loans under Minnesota Statutes section 462A.05 subdivision 39.",
"modified": []
},
"citation": "462A.05 subdivision 39"
},
{
"analysis": {
"added": [
"Flexibility for grants or loans without rent or income restrictions."
],
"removed": [],
"summary": "Appropriation for the rehabilitation of owner-occupied housing under Minnesota Statutes section 462A.05 subdivisions 14 and 14a.",
"modified": []
},
"citation": "462A.05 subdivisions 14 and 14a"
},
{
"analysis": {
"added": [
"Allow grants or forgivable loans without income restrictions."
],
"removed": [],
"summary": "Appropriation for rental housing rehabilitation under Minnesota Statutes section 462A.05 subdivision 14.",
"modified": []
},
"citation": "462A.05 subdivision 14"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "Appropriation for homeownership education counseling and training program under Minnesota Statutes section 462A.209.",
"modified": []
},
"citation": "462A.209"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "Appropriation for capacity building grants under Minnesota Statutes section 462A.21 subdivision 3b.",
"modified": []
},
"citation": "462A.21 subdivision 3b"
}
]