MN SF4593

Expands the definition of "financial assistance" under Minnesota economic development law to include allocations of low-income housing credits for multifamily housing projects with more than ten units, effective August 1, 2024.

Requires applicants for Minnesota Housing Finance Agency assistance to disclose any convictions, court judgments, legal settlements, or ongoing investigations involving wage theft violations or labor law violations from the preceding five years.

Mandates that all contractors and subcontractors on funded projects meet responsible contractor criteria under section 16C.285 and requires applicants to maintain and publicly post updated lists of all contractors with business names, registration numbers, and worker counts.

Holds project recipients responsible for correcting any wage theft violations and requires developers to submit a wage theft prevention plan to the Department of Labor and Industry if contractors fail to pay required wages.

Disqualifies developers from receiving agency funding for three years if their contractors fail to pay statutorily required wages totaling $25,000 or more within three years after entering into a wage theft prevention plan.