MN SF2621

Proposes a constitutional amendment to increase Minnesota's sales and use tax rate by 0.375% (three-eighths of one percent) from July 1, 2027 through June 30, 2052, with revenues dedicated to housing initiatives

Distributes tax receipts to three new funds: 50% to the Rental Opportunity Fund (rental assistance, affordable housing development), 25% to the Homeownership Opportunity Fund (down payment assistance, home construction/rehabilitation), and 25% to the Community and Household Stability Fund (emergency assistance, legal services, shelter operations for homeless populations)

Creates three advisory councils—one for each fund—with 24 voting members each, appointed by the governor and legislative leaders, including representatives from labor unions, Tribal governments, housing authorities, service recipients, and community organizations

Requires each council to develop six-year strategic plans with measurable outcomes, submit biennial reports to the legislature, and recommend appropriations; the Housing Finance Agency provides administrative support

Mandates that dedicated funds supplement (not replace) traditional housing funding sources, requires prevailing wage compliance for funded projects, and subjects expenditures to legislative auditor review; the amendment would appear on the 2026 general election ballot