MN SF2073

Appropriates $10,000,000 from bond proceeds to the Minnesota Housing Finance Agency for rehabilitation of public housing owned and operated by public housing authorities, with priority given to proposals that maximize federal or local resources.

Authorizes the Minnesota Housing Finance Agency to issue up to $30,000,000 in housing infrastructure bonds to finance supportive housing for homeless individuals and families, acquisition and rehabilitation of foreclosed or abandoned properties for affordable rental housing, and refinancing of federally assisted rental housing.

Establishes a housing infrastructure bond account within the housing development fund to receive bond proceeds and state payments, with authority for the agency to transfer funds to other accounts as needed.

Requires the Commissioner of Management and Budget to transfer annual debt service payments (not to exceed $2,200,000 per year) from the general fund beginning July 15, 2013 through 2035 for any outstanding housing infrastructure bonds.

Specifies that housing infrastructure bonds are not public debt of the state and are not backed by the state's full faith and credit or taxing power.