MN HF1402

Appropriates $10,000,000 from the general fund in fiscal year 2020 to the Minnesota Housing Finance Agency for grants to local housing trust funds, as a onetime appropriation.

Grantees receive state matching funds equal to 100 percent of local public revenue up to $150,000, plus 50 percent of local revenue between $150,000 and $300,000.

Allocates $100,000 of the appropriation for technical assistance grants to local and regional housing trust funds, with individual grants capped at $5,000 and distributed on a first-come, first-served basis.

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

Unused grant funds must be returned to the Housing Finance Agency within eight years of receipt.