SF1711

Purpose

This bill provides funding to support the workforce homeownership program by moving money between state funds and directing funding to the Minnesota Housing Finance Agency (MHFA) to run the program.

Main Provisions

• Transfers from General Fund to Housing Development Fund:
  • In fiscal year 2026 and fiscal year 2027, $30,250,000 is transferred from the General Fund to the Housing Development Fund.
  • This same transfer amount ($30,250,000) is continued in fiscal year 2028 and each year thereafter.
• Appropriations to MHFA for the workforce homeownership program:
  • In fiscal year 2026 and fiscal year 2027, $30,250,000 is appropriated from the Housing Development Fund to the Minnesota Housing Finance Agency to fund the workforce homeownership program, as described in Minnesota Statutes section 462A.38.

Significant Changes to Existing Law

• Establishes a new ongoing funding mechanism that moves $30,250,000 annually from the General Fund to the Housing Development Fund and allocates that amount to MHFA for the workforce homeownership program (for at least FY 2026 and FY 2027, per the current text).
• Ties funding specifically to the workforce homeownership program under MN Stat. 462A.38, reinforcing MHFA’s role in administering the program.

Relevant Terms - general fund - housing development fund - Minnesota Housing Finance Agency (MHFA) - workforce homeownership program - appropriation - transfer - Minnesota Statutes section 462A.38 - fiscal year 2026 - fiscal year 2027 - fiscal year 2028