Bill Text: MN HF344 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Public housing rehabilitation funding provided, bonds issued, and money appropriated.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2011-02-24 - Author added McFarlane [HF344 Detail]
Download: Minnesota-2011-HF344-Introduced.html
1.2relating to capital investment; appropriating money for rehabilitation of public
1.3housing; authorizing the sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. MINNESOTA HOUSING FINANCE AGENCY.
1.6 Subdivision 1. Appropriation. $10,000,000 is appropriated from the bond proceeds
1.7fund to the Housing Finance Agency for transfer to the housing development fund to
1.8finance the costs of rehabilitation to preserve public housing under Minnesota Statutes,
1.9section 462A.202, subdivision 3a. For purposes of this section, "public housing" means
1.10housing for low-income persons and households financed by the federal government and
1.11owned and operated by the public housing authorities and agencies formed by cities and
1.12counties. Eligible public housing authorities must have a public housing assessment
1.13system rating of standard or above. Priority must be given to proposals that maximize
1.14federal or local resources to finance the capital costs. The priority in Minnesota Statutes,
1.15section 462A.202, subdivision 3a, for projects to increase the supply of affordable housing
1.16and the restrictions of Minnesota Statutes, section 462A.202, subdivision 7, do not apply
1.17to this appropriation.
1.18 Subd. 2. Bond sale. To provide the money appropriated in this section from the
1.19bond proceeds fund, the commissioner of management and budget shall sell and issue
1.20bonds of the state in an amount up to $10,000,000 in the manner, upon the terms, and with
1.21the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
1.22Minnesota Constitution, article XI, sections 4 to 7.
1.23EFFECTIVE DATE.This section is effective the day following final enactment.
1.3housing; authorizing the sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. MINNESOTA HOUSING FINANCE AGENCY.
1.6 Subdivision 1. Appropriation. $10,000,000 is appropriated from the bond proceeds
1.7fund to the Housing Finance Agency for transfer to the housing development fund to
1.8finance the costs of rehabilitation to preserve public housing under Minnesota Statutes,
1.9section 462A.202, subdivision 3a. For purposes of this section, "public housing" means
1.10housing for low-income persons and households financed by the federal government and
1.11owned and operated by the public housing authorities and agencies formed by cities and
1.12counties. Eligible public housing authorities must have a public housing assessment
1.13system rating of standard or above. Priority must be given to proposals that maximize
1.14federal or local resources to finance the capital costs. The priority in Minnesota Statutes,
1.15section 462A.202, subdivision 3a, for projects to increase the supply of affordable housing
1.16and the restrictions of Minnesota Statutes, section 462A.202, subdivision 7, do not apply
1.17to this appropriation.
1.18 Subd. 2. Bond sale. To provide the money appropriated in this section from the
1.19bond proceeds fund, the commissioner of management and budget shall sell and issue
1.20bonds of the state in an amount up to $10,000,000 in the manner, upon the terms, and with
1.21the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
1.22Minnesota Constitution, article XI, sections 4 to 7.
1.23EFFECTIVE DATE.This section is effective the day following final enactment.
