HF2914 (Legislative Session 94 (2025-2026))
Workforce homeownership program funding provided, and money appropriated.
Related bill: SF1711
AI Generated Summary
Purpose of the Bill
The bill aims to allocate funds to support the workforce homeownership program in Minnesota. The goal is to provide financial resources that will help develop affordable homeownership opportunities for working families.
Main Provisions
- Funding Transfer: The bill proposes transferring $30,250,000 from the state's general fund to the housing development fund for fiscal years 2026, 2027, and each year thereafter.
- Appropriation for Homeownership Program: The same amount of $30,250,000 per fiscal year (2026 and 2027) is to be appropriated from the housing development fund to the Minnesota Housing Finance Agency.
- Program Target: The funds are specifically designated for the workforce homeownership program as defined under Minnesota Statutes section 462A.38, which focuses on assisting working individuals and families in becoming homeowners.
Significant Changes
- Establishing Continuous Funding: This bill establishes a recurring yearly transfer of funds starting in fiscal year 2028 to ensure ongoing support for the workforce homeownership program.
Relevant Terms
workforce homeownership program, housing development fund, Minnesota Housing Finance Agency, general fund, fiscal year, appropriation, affordable homeownership.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| March 26, 2025 | House | Floor | Action | Introduction and first reading, referred to | Housing Finance and Policy |
Citations
[
{
"analysis": {
"added": [
"New appropriation for fiscal years 2026 and 2027."
],
"removed": [
""
],
"summary": "Appropriating money for the workforce homeownership program under section 462A.38.",
"modified": [
""
]
},
"citation": "462A.38",
"subdivision": ""
}
]