Purpose of the Bill

The bill aims to ensure that any proposed regulations that might significantly increase the cost of housing construction or remodeling in Minnesota are reviewed by appropriate legislative committees.

Main Provisions

• Cost Threshold for Review: The bill mandates that any legislative proposal which would increase the cost of residential construction or remodeling by $3,000 or more per unit must be sent to the legislative committees responsible for housing finance and policy.
• Committee Oversight: This ensures that those committees can assess the potential financial impact on housing affordability before the bill is passed.

Significant Changes to Existing Law

• Currently, not all housing-related bills require committee review solely based on their financial impact. This bill introduces a new requirement for referral, specifically if a financial threshold is met, adding an additional layer of scrutiny for cost increases in residential development.

Relevant Terms

• Housing finance
• Residential construction
• Legislative committees
• Remodeling cost increase
• Housing policy