MN SF2589

Eliminates the carryforward deduction penalty for entitlement issuers that fail to use bonding authority within the required timeframe, effective for 2011 and subsequent years.

Removes the requirement that entitlement issuers must provide a notice of issue by December 31 or lose unused bonding authority from their next year's allocation.

Allows the Minnesota Office of Higher Education to carry forward student loan bond allocations without the one-year limitation that previously applied.

Removes the one-year carryforward limit for mortgage bond allocations awarded to the Minnesota Housing Finance Agency, allowing longer availability subject to notice requirements.

Provides retroactive relief for bonding authority allocated in 2008, 2009, and 2010 that was not issued by December 31, 2011, preventing deductions from 2012 entitlement allocations.