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MN SF3801

Bill

Status

Introduced

3/2/2020

Primary Sponsor

Rich Draheim

Click for details

Origin

Senate

91st Legislature 2019-2020

AI Summary

  • 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.

  • 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.

  • Single family housing projects must qualify for mortgage financing under Section 143 of the Internal Revenue Code.

  • 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

Committee Referrals

Agriculture, Rural Development, and Housing Finance3/4/2020
Agriculture, Rural Development, and Housing Policy3/2/2020

Full Bill Text

No bill text available