SF2298 (Legislative Session 94 (2025-2026))
Minnesota Housing Finance Agency budget establishment and appropriation
Related bill: HF2445
AI Generated Summary
Purpose of the Bill
The bill aims to allocate a budget for the Minnesota Housing Finance Agency to support various housing initiatives. These funds are intended to address housing needs and improve housing affordability and stability across Minnesota.
Main Provisions
- Total Appropriations: The bill details the total budgets allocated for fiscal years 2026 and 2027, with specific amounts earmarked for various housing programs.
- Challenge Program: Funds economic development and housing challenges, specifically reserving an amount for housing projects for American Indians.
- Workforce Housing Development: Supports housing development in Greater Minnesota, potentially including income-restricted and owner-occupied units.
- Manufactured Home Park Infrastructure: Grants for infrastructure improvements in manufactured home parks.
- Workforce Homeownership Program: Assists individuals in purchasing homes as part of workforce development.
- Rent Assistance Program: Provides rent assistance to low-income individuals and families.
- Housing Trust Fund: Deposits funds for the trust aiding mortgage and rent assistance.
- Homework Starts with Home: Targets housing instability and homelessness affecting children and families.
- Rental Assistance for Mentally Ill: Offers housing assistance for individuals with mental illness, promoting integrated community living.
- Family Homeless Prevention: Allocates funds to prevent homelessness and assists families at risk.
- Home Ownership Assistance Fund: Addresses homeownership disparities, focusing on racial equity.
- Affordable Rental Investment Fund: Finances affordable housing projects, supporting existing federally assisted housing.
- Owner-Occupied Housing Rehabilitation: Supports rehabilitation of owner-occupied homes without income or rent restrictions.
- Rental Housing Rehabilitation: Provides funding for repairing rental properties.
- Homeownership Education and Training: Funds education, counseling, and training for future homeowners.
- Capacity Building Grants: Enhances the capacity of organizations involved in housing efforts.
- Grant to Build Wealth Minnesota: Supports financial literacy and budget counseling through a specific nonprofit organization.
- Funds Availability and Transfer: Allows for transferring funds between budget areas to meet emerging high-priority housing needs.
Significant Changes
- The bill introduces new allocations and earmarks specific amounts within existing programs to address systemic issues like racial disparities in homeownership and support integrated living options for those with mental illness.
- Expands the scope of certain programs to ensure geographic and demographic equity.
Relevant Terms
appropriations, Minnesota Housing Finance Agency, Challenge Program, economic development, housing projects, American Indians, workforce housing, manufactured home park, rent assistance, Housing Trust Fund, homework instability, mental illness, homeless prevention, homeownership disparity, affordable rental investment, property rehabilitation, financial literacy.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| March 09, 2025 | Senate | Floor | Action | Introduction and first reading | |
| March 09, 2025 | Senate | Floor | Action | Referred to | Housing and Homelessness Prevention |
| April 06, 2025 | Senate | Floor | Action | Comm report: To pass as amended and re-refer to | Finance |
Citations
[
{
"analysis": {
"added": [
"Funds for housing projects for American Indians prior to the annual request for funding."
],
"removed": [
"None noted directly in the section text."
],
"summary": "Appropriations are specified for the economic development and housing challenge program under Minnesota Statutes section 462A.33.",
"modified": [
"Funds are part of the agency's permanent budget base."
]
},
"citation": "462A.33"
},
{
"analysis": {
"added": [
"Appropriation details for subdivision 14 under sections 462A.33, providing specific commitments to housing projects for American Indians."
],
"removed": [
"None noted directly in the section text."
],
"summary": "Citations involve appropriations for the housing challenge program relating to subdivisions specified under Minnesota Statutes section 462A.07.",
"modified": [
"Provisions prioritize American Indian housing projects within the fiscal year constraints."
]
},
"citation": "462A.07"
},
{
"analysis": {
"added": [
"Income and rent restricted units options for funded properties."
],
"removed": [
"None noted directly in the section text."
],
"summary": "Appropriations are earmarked for the Greater Minnesota workforce housing development program under Minnesota Statutes section 462A.39.",
"modified": [
"Potential inclusion of owner-occupied homes if requested and approved."
]
},
"citation": "462A.39"
},
{
"analysis": {
"added": [
"Addresses park infrastructure with specific appropriations outlined."
],
"removed": [
"None noted directly in the section text."
],
"summary": "Funds are allocated for manufactured home park infrastructure grants under Minnesota Statutes section 462A.2035.",
"modified": [
"Clarifies on infrastructure funding within the designated program."
]
},
"citation": "462A.2035"
},
{
"analysis": {
"added": [
"Specific budget allocations for promoting homeownership."
],
"removed": [
"None noted directly in the section text."
],
"summary": "This section pertains to funding for the workforce homeownership program under Minnesota Statutes section 462A.38.",
"modified": [
"Emphasizes workforce homeownership through defined appropriations."
]
},
"citation": "462A.38"
},
{
"analysis": {
"added": [
"Explicit focus on rent assistance via defined appropriations."
],
"removed": [
"None noted directly in the section text."
],
"summary": "Funds are allocated for the Rent Assistance Program under Minnesota Statutes section 462A.2095.",
"modified": [
"Regulations and funding criteria for assistance program detailed."
]
},
"citation": "462A.2095"
},
{
"analysis": {
"added": [
"Trust Fund increases and its usage described."
],
"removed": [
"None noted directly in the section text."
],
"summary": "Housing Trust Fund deposits mentioned under Minnesota Statutes section 462A.201.",
"modified": [
"Details on fund usage for various housing-related activities."
]
},
"citation": "462A.201"
},
{
"analysis": {
"added": [
"Enhancements in program funding include addressing homelessness risk and program effectiveness."
],
"removed": [
"None noted directly in the section text."
],
"summary": "Appropriations for the Family Homeless Prevention and Assistance Program under Minnesota Statutes section 462A.204.",
"modified": [
"Program operation options through advisory committees and local continuum of care."
]
},
"citation": "462A.204"
},
{
"analysis": {
"added": [
"Homeownership education and effort to address racial disparities."
],
"removed": [
"None noted directly in the section text."
],
"summary": "This includes appropriations under Minnesota Statutes section 462A.21.",
"modified": [
"Data collection on race and demographics to understand disparity gaps."
]
},
"citation": "462A.21"
},
{
"analysis": {
"added": [
"Details for financing and rehabilitation related to rental and owner-occupied properties."
],
"removed": [
"None noted directly in the section text."
],
"summary": "Various subsections, such as 39, mentioned under Minnesota Statutes section 462A.05.",
"modified": [
"Provisions for loans without restrictions, prioritizing statewide availability."
]
},
"citation": "462A.05"
}
]