SF1652 (Legislative Session 94 (2025-2026))
Certain low-income rental projects receiving low-income housing tax credits rent increase limitation provision
Related bill: HF1605
AI Generated Summary
This bill, S.F. No. 1652, proposes a limitation on rent increases for certain low-income rental projects in Minnesota that receive low-income housing tax credits. It specifically applies to housing projects designated for seniors.
Key Provisions:
- Applies to senior-restricted housing projects (as defined in Minnesota Statutes section 462A.37, subdivision 1, paragraph (h)) that receive low-income housing tax credits under Section 42 of the Internal Revenue Code.
- Limits rent increases for rent-restricted units in these projects within a 12-month period to the greater of:
- The percentage increase in Social Security or Supplemental Security Income (SSI) benefits over the previous 12 months, minus 1%, or
- 0% (no increase)
- The percentage increase in Social Security or Supplemental Security Income (SSI) benefits over the previous 12 months, minus 1%, or
This ensures that rent hikes remain aligned with cost-of-living increases for seniors, helping to prevent significant financial burdens on low-income senior residents.
Bill text versions
- Introduction PDF file
Past committee meetings
- Housing and Homelessness Prevention on: March 06, 2025 12:30
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 20, 2025 | Senate | Action | Introduction and first reading | ||
| February 20, 2025 | Senate | Action | Referred to | Housing and Homelessness Prevention | |
| March 06, 2025 | Senate | Action | Author added |
Citations
[
{
"analysis": {
"added": [],
"removed": [],
"summary": "This bill references section 462A.37 to define 'seniors' in the context of housing projects.",
"modified": []
},
"citation": "462A.37"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "This bill refers to U.S. Code sections related to Social Security to establish limits on rental increases based on benefit increments.",
"modified": []
},
"citation": "42 U.S. Code sections 415(i) and 1382(f)"
}
]Progress through the legislative process
In Committee