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MN HF3902
Bill
Status
3/2/2026
Primary Sponsor
Spencer Igo
Click for details
AI Summary
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Repeals the December 31, 2028 sunset date for the Minnesota Housing Tax Credit program, making the $9.9 million annual tax credit program permanent
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Requires the Minnesota Housing Finance Agency to reserve a percentage of tax credits for qualified housing projects in Greater Minnesota equal to that region's share of state population
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Unallocated Greater Minnesota credits become available for other qualified projects statewide beginning October 1 of each year
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Adds statutory definitions for "Greater Minnesota" (areas outside the metropolitan area), "metropolitan area," and "population" to clarify credit allocation requirements
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Changes take effect for taxable years beginning after December 31, 2026, with the sunset repeal effective the day following final enactment
Legislative Description
Eligible recipients for Minnesota housing tax credit contributions modified, and credit sunset repealed.
Last Action
Committee report, to adopt as amended and re-refer to Taxes
3/9/2026