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MN HF4856
Bill
Status
5/4/2022
Primary Sponsor
Michael Howard
Click for details
AI Summary
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Transfers $25,000,000 from the general fund to the housing trust fund account under Minnesota Statutes, section 462A.201.
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Requires the Housing Finance Agency commissioner to make grants to eligible low-income persons to purchase shares in limited equity cooperative housing units when tenant-occupied buildings convert to that status.
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Grant amounts are limited to $20,000 or 25 percent of the cost of a share, whichever is less.
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Section expires June 30, 2026, with any remaining funds canceling back to the general fund.
Legislative Description
Housing; general fund money transfer to housing trust fund for grants to low-income persons to purchase shares in limited equity cooperative housing units.
Last Action
Introduction and first reading, referred to Housing Finance and Policy
5/4/2022