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MN HF4186
Bill
Status
3/12/2026
Primary Sponsor
Meg Luger-Nikolai
Click for details
AI Summary
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Expands investment options for qualifying governments to include shares of SEC-registered companies that concentrate in investment-grade fixed income securities, hold at least 80% of investments in federally insured/guaranteed securities, and have a mission to invest in local multifamily housing development
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Authorizes housing and redevelopment authorities in qualifying counties or cities to invest their funds in the new housing-focused investment option, subject to the same limitations as other qualifying governments
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Adds investment with the Minnesota State Board of Investment as a third option for qualifying governments, subject to board-adopted terms and minimum amounts
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Allows governing bodies to approve investments through either a resolution or an investment policy (previously only resolution), which must acknowledge investment risks and certify compliance with requirements
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All sections take effect the day following final enactment
Legislative Description
Housing and redevelopment agencies authorized to utilize certain long-term equity investment authority, and investment types in which a qualifying government may invest modified.
Last Action
Introduction and first reading, referred to Elections Finance and Government Operations
3/12/2026