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MN SF5512

Bill

Status

Introduced

5/6/2024

Primary Sponsor

Jeff Howe

Click for details

Origin

Senate

93rd Legislature 2023-2024

AI Summary

  • Reduces small issue pool allocation from $74,530,000 to $25,500,000 annually under the federal tax law volume cap

  • Increases public facilities pool allocation from $12,750,000 to $61,780,000 annually, making it the largest pool allocation

  • Extends the deadline for issuers to permanently issue bonds from 120 days to 180 days after receiving an allocation

  • 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

  • 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

Committee Referrals

Jobs and Economic Development5/6/2024

Full Bill Text

No bill text available