MN SF4367

Expands investment options for qualifying governments to include shares in 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

Authorizes housing and redevelopment authorities in qualifying counties or cities to invest their funds in the new multifamily housing-focused investment option, subject to the same limitations as other qualifying governments

Adds the option for qualifying governments to invest with the Minnesota State Board of Investment under terms and minimum amounts set by the board

Requires governing bodies to adopt a resolution or investment policy acknowledging risk of loss and understanding of the investment type before investing under these provisions

All sections effective the day following final enactment