AI Generated Summary
Purpose of the Bill
The bill is designed to support homeownership efforts by providing financial education and advice to help individuals achieve and sustain homeownership in Minnesota.
Main Provisions
- Funding Allocation: The bill allocates $200,000 for fiscal year 2026 and $200,000 for fiscal year 2027. This money will be transferred from the Minnesota general fund to the housing development fund.
- Grant to CAPI USA: The funds are designated for the commissioner of the Housing Finance Agency to issue a grant to CAPI USA. The grant will be used for CAPI USA’s homeownership education and financial counseling programs.
Significant Changes
- One-Time Transfer: This financial arrangement is noted as a one-time transfer and appropriation, specifying limited fiscal applications for the specified years.
Relevant Terms
- Housing Fund
- Homeownership Education
- Financial Counseling
- Grant
- CAPI USA
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| March 16, 2025 | Senate | Floor | Action | Introduction and first reading | |
| March 16, 2025 | Senate | Floor | Action | Referred to | Housing and Homelessness Prevention |