This legislative bill in Minnesota aims to allocate a portion of local government aid specifically for the improvement of housing built before 1940. Cities receiving this aid are required to use a calculated amount of their funds to support urban renewal projects for these older homes. This includes updates to utilities and infrastructure, as well as enhancements to wiring, plumbing, insulation, and systems related to heating, cooling, and energy efficiency. The aid can be used either directly for these projects or through a combination of grants or low-interest loans to property owners. If the calculated amount of aid for a city is less than $100, then no mandatory dedication is required. The funds allocated for these housing improvements are in addition to any other financial sources such as grants or fees dedicated to housing programs.