MN HF4271

Authorizes housing and redevelopment authorities to create public corporations for purchasing, owning, and operating properties converted under the federal Rental Assistance Demonstration (RAD) program under Public Law 112-55.

Exempts RAD public corporations from state liability provisions in Minnesota Statutes section 15.082, allowing them to operate with separate legal standing.

Establishes a three-member board of directors consisting of a city council member from the incorporation city, a commissioner from the creating authority, and the Minnesota Housing Finance Agency commissioner or delegate, with six-year terms.

Grants corporations powers to contract, accept federal and state funds, manage property, and enter into rental agreements, subject to restrictions compatible with state general obligation bond funding.

Requires corporations to comply with open meetings laws (chapter 13D), data practices laws (chapter 13), and all federal, state, and local regulations for operating project-based rental assistance properties.

Takes effect July 1, 2024.