SF4158 Summary

• Total housing appropriations of $63,025,000 for fiscal year 2025 directed to the Minnesota Housing Finance Agency for family homeless prevention, housing affordability preservation investment, and other housing programs.

• Increases housing debt ceiling from $5 billion to $7 billion and authorizes an additional $50 million in housing infrastructure bonds for supportive housing, rental housing, senior housing, and single-family housing development.

• Expands housing loan and rehabilitation programs to include decarbonization, climate resilience, and energy efficiency improvements; allows households receiving income-based public assistance to qualify for agency programs.

• Establishes housing affordability preservation investment program providing $50 million in grants to recapitalize distressed affordable rental buildings facing foreclosure or financial hardship.

• Streamlines rental assistance processing through e-signature options, simplified verification procedures, and requirements for timely application processing and payment to landlords for emergency rental assistance programs.