SF3503 (Legislative Session 94 (2025-2026))
Locally controlled housing fund establishment; allowable uses for housing infrastructure bonds modification; sale and issuance of state bonds authorization; appropriating money
Related bill: HF2693
AI Generated Summary
Purpose of the Bill
The bill aims to address housing issues in Minnesota by establishing a locally controlled housing fund. It seeks to modify the usage of housing infrastructure bonds and requires reporting on the program's progress.
Main Provisions
- Locally Controlled Housing Fund: Establishes a program that allows local entities to develop or acquire housing that they will manage and own.
- Housing Infrastructure Bonds: Authorizes the issuance of up to $30 million in bonds for various housing projects, such as supportive housing, rehabilitating foreclosed properties, community land trusts, senior housing, and more.
- Prioritization for Supportive Housing: Preference is given to projects for veterans and individuals or families without permanent residence for extended periods.
- Income Cap Requirements: Sets income eligibility caps for residents in funded multifamily properties, ensuring affordability for low- to moderate-income households.
- Accessibility and Sensory Requirements: New buildings financed with these funds must include both accessible units and sensory-accessible units, with specific features like roll-in showers and soundproofing.
Significant Changes to Existing Law
- Amendment of Minnesota Statutes: Amends current statutes to include these changes in housing financing methods and program establishment.
- Grant and Loan Distribution: Defines the allocation of money through grants or loans specifically designed for metropolitan and non-metropolitan areas equally.
- Reporting Mandate: Requires an annual report from the commissioner on funded projects to be submitted to legislative housing finance committees, beginning January 2026.
Relevant Terms
- Housing infrastructure bonds
- Supportive housing
- Affordable housing
- Sensory-accessible units
- Community land trusts
- Bond proceeds
- Housing development fund
This provides an overview of how the proposed legislation seeks to support housing development and management in Minnesota, with an emphasis on affordability and accessibility.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| May 08, 2025 | Senate | Floor | Action | Introduction and first reading | |
| May 08, 2025 | Senate | Floor | Action | Introduction and first reading | |
| May 08, 2025 | Senate | Floor | Action | Referred to | Housing and Homelessness Prevention |
Citations
[
{
"analysis": {
"added": [],
"removed": [],
"summary": "This bill modifies the authorization of housing infrastructure bonds under section 462A.37, subdivision 2.",
"modified": [
"Increases the aggregate principal amount of bonds that may be issued to finance housing projects."
]
},
"citation": "462A.37",
"subdivision": "subdivision 2"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "This bill modifies the financing for manufactured home parks under section 462A.2035, subdivision 1b.",
"modified": [
"Clarifies the terms under which manufactured home parks can receive funding."
]
},
"citation": "462A.2035",
"subdivision": "subdivision 1b"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "This bill references section 16A.642 regarding the encumbrance or spending of funds.",
"modified": []
},
"citation": "16A.642",
"subdivision": ""
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "References the current State Building Code Accessibility Provisions for Dwelling Units in Minnesota under section 1002.",
"modified": [
"Specifies accessibility requirements related to the construction and renovation of housing units."
]
},
"citation": "1002",
"subdivision": ""
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "This bill refers to compliance with management contract terms under section 16A.695, subdivision 2.",
"modified": []
},
"citation": "16A.695",
"subdivision": "subdivision 2"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "References sections 16A.631 to 16A.675 regarding the sale and issuance of bonds.",
"modified": []
},
"citation": "16A.631 to 16A.675",
"subdivision": ""
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "References Minnesota Constitution article XI, sections 4 to 7, regarding the state bonding process.",
"modified": []
},
"citation": "Minnesota Constitution article XI sections 4 to 7",
"subdivision": ""
}
]