Bill Text: MN HF3039 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Public housing preservation rehabilitation funding provided, bonds issued, and money appropriated.
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Introduced - Dead) 2012-04-30 - Introduction and first reading, referred to Jobs and Economic Development Finance [HF3039 Detail]
Download: Minnesota-2011-HF3039-Introduced.html
1.2relating to capital improvements; appropriating money for rehabilitation to
1.3preserve public housing; authorizing the sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. APPROPRIATION.
1.6$400,000,000 is appropriated from the bond proceeds fund to the Housing Finance
1.7Agency for the purposes of financing the rehabilitation costs to preserve public housing
1.8under Minnesota Statutes, section 462A.202, subdivision 3a. For purposes of this section,
1.9"public housing" means housing for low-income persons and households financed by
1.10the federal government and owned and operated by the public housing authorities and
1.11agencies formed by cities and counties. Eligible public housing authorities must have a
1.12public housing assessment system rating of standard or above. Priority must be given to
1.13proposals that maximize federal or local resources to finance the capital costs. The priority
1.14in Minnesota Statutes, section 462A.202, subdivision 3a, for projects to increase the
1.15supply of affordable housing and the restrictions of Minnesota Statutes, section 462A.202,
1.16subdivision 7, do not apply to this appropriation.
1.17 Sec. 2. BOND SALE.
1.18To provide the money appropriated in section 1 from the bond proceeds fund, the
1.19commissioner of management and budget shall sell and issue bonds of the state in an
1.20amount up to $400,000,000 in the manner, upon the terms, and with the effect prescribed
1.21by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota Constitution,
1.22article XI, sections 4 to 7.
2.1 Sec. 3. EFFECTIVE DATE.
2.2Sections 1 and 2 are effective the day following final enactment.
1.3preserve public housing; authorizing the sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. APPROPRIATION.
1.6$400,000,000 is appropriated from the bond proceeds fund to the Housing Finance
1.7Agency for the purposes of financing the rehabilitation costs to preserve public housing
1.8under Minnesota Statutes, section 462A.202, subdivision 3a. For purposes of this section,
1.9"public housing" means housing for low-income persons and households financed by
1.10the federal government and owned and operated by the public housing authorities and
1.11agencies formed by cities and counties. Eligible public housing authorities must have a
1.12public housing assessment system rating of standard or above. Priority must be given to
1.13proposals that maximize federal or local resources to finance the capital costs. The priority
1.14in Minnesota Statutes, section 462A.202, subdivision 3a, for projects to increase the
1.15supply of affordable housing and the restrictions of Minnesota Statutes, section 462A.202,
1.16subdivision 7, do not apply to this appropriation.
1.17 Sec. 2. BOND SALE.
1.18To provide the money appropriated in section 1 from the bond proceeds fund, the
1.19commissioner of management and budget shall sell and issue bonds of the state in an
1.20amount up to $400,000,000 in the manner, upon the terms, and with the effect prescribed
1.21by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota Constitution,
1.22article XI, sections 4 to 7.
2.1 Sec. 3. EFFECTIVE DATE.
2.2Sections 1 and 2 are effective the day following final enactment.
