Loading chat...
MN SF4400
Bill
Status
3/12/2026
Primary Sponsor
Zaynab Mohamed
Click for details
AI Summary
-
Reduces the aggregate bond limitation for private activity bonds allocated to residential rental projects from the current "up to 55 percent" to a new two-tier formula
-
New limitation is the greater of: (1) 30 percent of the reasonably expected aggregate basis of the project and land, or (2) the maximum supportable permanent amortizing debt, capped at 40 percent of aggregate basis
-
Amends Minnesota Statutes section 474A.02, subdivision 1a, which defines aggregate bond limitation for qualifying residential rental projects
-
Effective date is January 1, 2027
Legislative Description
Aggregate bond limitation reduction applicable to the allocation of private activity bonds for qualifying residential rental project
Last Action
Referred to Housing and Homelessness Prevention
3/12/2026