MN SF3721

Requires the Minnesota Housing Finance Agency to develop standardized forms and procedures for reviewing applications for first-generation homebuyers down payment assistance, with community partner organizations required to use these same forms

Mandates that all applications include a signed affidavit affirming eligibility compliance, with warnings that false information is subject to prosecution for fraud and perjury under Minnesota statutes 609.52, 609.821, and 609.48

Places the burden of providing documentary evidence of eligibility on the applicant, though the agency may assist applicants who are unable to obtain required documents

Requires eligibility verification before any down payment assistance is issued by the agency or community partners

Establishes an annual reporting and independent financial audit requirement, with reports due by January 15 for any year disbursements are made from the fund