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MN SF3322
Bill
Status
Introduced
3/25/2010
Primary Sponsor
Sandra Pappas
Click for details
AI Summary
- Increases the annual allocation limit for student loan bonds from the unified pool from $10,000,000 to $25,000,000 per year
- Authorizes the Minnesota Housing Finance Agency, Minnesota Office of Higher Education, and Minnesota Rural Finance Authority to transfer allocated bonding authority to one another prior to December 1 under an agreement with each agency and the commissioner
- Allows entitlement issuers to transfer bonding authority to non-entitlement issuers for qualified mortgage bonds up to $100,000 without city council approval
- Maintains existing allocation procedures where bonding authority is allocated every other week from August through November, with different priority rankings before and after October 1
- Preserves existing caps on mortgage bond allocations at $10,000,000 per city and $20,000,000 per county
Legislative Description
Higher education bond allocation limits modification; housing finance agency (HFA), office of higher education and rural finance authority bonding authority transfer authorization
Last Action
Senate: Introduction and first reading
3/25/2010
Committee Referrals
Taxes3/25/2010
Full Bill Text
No bill text available