MN SF2541

Modifies housing project requirements under tax increment financing (TIF) by changing the income qualification standard from owner-occupied housing to a broader income requirement framework.

Allows housing projects to satisfy either the income requirements for qualified mortgage bond projects under Internal Revenue Code section 143(f) or qualified residential rental projects under IRC section 142(d), providing flexibility in project qualification.

Requires 95 percent of housing units to be initially occupied by individuals whose family income meets one of the two specified federal income requirement standards.

Repeals subdivision 3 of Minnesota Statutes 2012, section 469.1761, eliminating a previous provision regarding housing project requirements.

Takes effect for districts making certification requests after the bill's final enactment; repealer takes effect the day following final enactment.