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MN SF3801
Bill
Status
3/2/2020
Primary Sponsor
Rich Draheim
Click for details
AI Summary
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Adds single family housing acquisition, rehabilitation, adaptive reuse, or new construction as an authorized use of housing infrastructure bonds under Minnesota Statutes section 462A.37.
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Housing infrastructure bonds may be issued up to $30,000,000 in aggregate principal amount for six existing purposes plus the new single family housing purpose.
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Single family housing projects must qualify for mortgage financing under Section 143 of the Internal Revenue Code.
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Amends the definition of "housing infrastructure bonds" to explicitly include bonds financing single family houses that meet federal mortgage financing requirements.
Legislative Description
Housing infrastructure bonds use for single family houses authorization
Last Action
Second reading
3/16/2020