HF4346

Purpose

Provide a one-time funding infusion to support Minnesota’s first-time homebuyer fee-based home purchase financing program, administered by the Housing Finance Agency. The program is existing law, originally established in prior statutes.

Main Provisions

• Section 1 creates a onetime appropriation in fiscal year 2027 from the general fund.
• The funds go to the commissioner of the Housing Finance Agency to support the first-time homebuyer fee-based home purchase financing program.
• The program being funded was established in Laws 2023, chapter 37, article 2, section 12, and amended in Laws 2024, chapter 127, article 15, section 44.
• The appropriation is explicitly described as a one-time provision.

Funding Details and Administration

• Source of funds: general fund.
• Recipient/administrator: commissioner of the Housing Finance Agency (HFA).
• Purpose: to support the first-time homebuyer fee-based home purchase financing program in place from the referenced laws.
• Timing: funding is for fiscal year 2027; described as a one-time appropriation.

Relationship to Existing Law and Significance

• This bill does not create a new ongoing program or permanent funding stream; it provides a temporary, one-time appropriation for an already established program.
• It reinforces ongoing support for first-time homebuyer assistance via a fee-based financing mechanism, leveraging the HFA.

Sectional/Legal References (for context)

• Program established in Laws 2023 chapter 37 article 2 section 12, with amendments in Laws 2024 chapter 127 article 15 section 44.
• Section 1 codifies the specific one-time appropriation in fiscal year 2027.

Effective Date

• The appropriation applies to fiscal year 2027; no other effective dates are specified in the excerpt.

Relevant Terms one-time appropriation general fund Housing Finance Agency first-time homebuyer fee-based home purchase financing program fiscal year 2027 Laws 2023 chapter 37 article 2 section 12 Laws 2024 chapter 127 article 15 section 44 appropriation Section 1 Minnesota housing program HFA commissioner