SF5015

Purpose

• Provide a one-time funding mechanism to expand access to the Rent Smart Wise and Ready online rental education course across Minnesota.

Main Provisions

• Funding and source: In fiscal year 2027, the general fund appropriates $4,634,000 to the Housing Finance Agency (HFA).
• Use of funds: The money is dedicated to providing statewide access to the Rent Smart Wise and Ready online rental education course through Build Wealth MN.
• Licenses: The HFA must use the funds to purchase licenses for the Rent Smart Wise and Ready curriculum for individuals and families seeking rental assistance and for households participating in subsidized housing programs.
• Contracting: The HFA must contract with Build Wealth MN, the developer and sole provider of the Rent Smart Wise and Ready curriculum, to deliver and administer the program statewide.
• One-time appropriation: This is a single, non-repeating funding measure.

Purpose/Impact

• Expands renter education access statewide; aims to assist renters and households in subsidized housing programs by improving education and readiness for renting.

Changes to Existing Law

• Establishes a new one-time appropriation from the general fund to the Housing Finance Agency for this specific online education program.
• Creates a contractual relationship with Build Wealth MN as the sole provider to deliver and administer the program statewide.

Implementation and Oversight

• Administration and delivery of the Rent Smart Wise and Ready course will be handled statewide by the Housing Finance Agency through a contract with Build Wealth MN.
• Funding is explicitly tied to licenses and access for eligible renters and subsidized housing participants; ongoing funding beyond this one-time appropriation is not specified.

Significance

• Introduces a targeted investment in renter education intended to support housing stability and access to rental assistance resources.

Potential Impacts

• Increased availability of online renter education resources for eligible individuals and families.
• A centralized delivery mechanism via Build Wealth MN may streamline access and consistency of the curriculum.

Relevant Terms - Rent Smart Wise and Ready - online rental education course - Build Wealth MN - Housing Finance Agency - general fund - appropriation - licenses - purchase licenses - statewide access - individuals seeking rental assistance - families seeking rental assistance - households in subsidized housing programs - contract - developer - sole provider - one-time appropriation - fiscal year 2027