MN SF3710

Appropriates $2,000,000 in fiscal year 2019 from the general fund to the Housing Finance Agency for grants to local housing trust funds as a one-time appropriation.

Provides matching grants of 100 percent for local funding up to $150,000 and 50 percent for amounts between $150,000 and $300,000 received by housing trust funds in fiscal years 2018 and 2019 from housing authority levies or local government appropriations.

Limits eligibility to housing trust funds established under Minnesota Statutes section 462C.16 and to municipalities outside the 11-county metropolitan area with populations under 40,000.

Requires grant recipients to use funds within eight years for purposes authorized under section 462C.16, subdivision 3, and to benefit households with incomes at or below 115 percent of state median income.

Requires proportional reduction of grant amounts to each housing trust fund if the appropriation is insufficient to fully fund matching grants at the specified levels.