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MN SF5512
Bill
Status
5/6/2024
Primary Sponsor
Jeff Howe
Click for details
AI Summary
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Reduces small issue pool allocation from $74,530,000 to $25,500,000 annually under the federal tax law volume cap
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Increases public facilities pool allocation from $12,750,000 to $61,780,000 annually, making it the largest pool allocation
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Extends the deadline for issuers to permanently issue bonds from 120 days to 180 days after receiving an allocation
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Adds public facility projects funded by public facility bonds as a priority allocation category prior to October 1, placing it second after residential rental project bonds
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Removes public facility projects from the October 1 through November allocation priority list, making them eligible only during the July through September period
Legislative Description
Annual volume cap allocations and allocation procedure for public facility projects funded by public facility bonds modification
Last Action
Referred to Jobs and Economic Development
5/6/2024