MN SF4044

50% of Minnesota housing tax credits ($9,900,000 annual cap) must be reserved for qualified projects located in Greater Minnesota (areas outside the metropolitan area), with unreserved credits becoming available for other projects after September 30 each year

Adds statutory definitions for "Greater Minnesota" and "Metropolitan area" to clarify geographic eligibility requirements for the housing tax credit program

Minnesota Housing Finance Agency retains authority to award grants and loans to cities, federally recognized American Indian Tribes, Tribal housing corporations, private developers, nonprofit organizations, housing authorities, and property owners

Existing restrictions remain in place prohibiting grants or loans to individuals or businesses that contributed to the housing tax credit account and received credit certificates, as well as their immediate family members or related business entities

Effective for taxable years beginning after December 31, 2026