Bill Text: MN SF702 | 2013-2014 | 88th Legislature | Introduced
Bill Title: Public housing rehabilitation bond issue and appropriation
Sponsorship: Bipartisan Bill
Status: (Introduced - Dead) 2013-02-25 - Referred to Finance [SF702 Detail]
Download: Minnesota-2013-SF702-Introduced.html
1.2relating to capital investment; appropriating money for public housing
1.3rehabilitation; authorizing the sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. HOUSING FINANCE AGENCY; PUBLIC HOUSING
1.6REHABILITATION.
1.7 Subdivision 1. Appropriation. $15,000,000 is appropriated from the bond proceeds
1.8fund to the Housing Finance Agency for transfer to the housing development fund to
1.9finance the costs of rehabilitation to preserve public housing under Minnesota Statutes,
1.10section 462A.202, subdivision 3a. For purposes of this section, "public housing" means
1.11housing for low-income persons and households financed by the federal government and
1.12owned and operated by the public housing authorities and agencies formed by cities and
1.13counties. Public housing authorities receiving a public housing assessment composite
1.14score of 80 or above are eligible to receive funding. Priority must be given to proposals
1.15that maximize federal or local resources to finance the capital costs. The priority in
1.16Minnesota Statutes, section 462A.202, subdivision 3a, for projects to increase the supply
1.17of affordable housing and the restrictions of Minnesota Statutes, section 462A.202,
1.18subdivision 7, do not apply to this appropriation.
1.19 Subd. 2. Bond sale. To provide the money appropriated in this section from the
1.20bond proceeds fund, the commissioner of management and budget shall sell and issue
1.21bonds of the state in an amount up to $15,000,000 in the manner, upon the terms, and with
1.22the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
1.23Minnesota Constitution, article XI, sections 4 to 7.
2.1EFFECTIVE DATE.This section is effective the day following final enactment.
1.3rehabilitation; authorizing the sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. HOUSING FINANCE AGENCY; PUBLIC HOUSING
1.6REHABILITATION.
1.7 Subdivision 1. Appropriation. $15,000,000 is appropriated from the bond proceeds
1.8fund to the Housing Finance Agency for transfer to the housing development fund to
1.9finance the costs of rehabilitation to preserve public housing under Minnesota Statutes,
1.10section 462A.202, subdivision 3a. For purposes of this section, "public housing" means
1.11housing for low-income persons and households financed by the federal government and
1.12owned and operated by the public housing authorities and agencies formed by cities and
1.13counties. Public housing authorities receiving a public housing assessment composite
1.14score of 80 or above are eligible to receive funding. Priority must be given to proposals
1.15that maximize federal or local resources to finance the capital costs. The priority in
1.16Minnesota Statutes, section 462A.202, subdivision 3a, for projects to increase the supply
1.17of affordable housing and the restrictions of Minnesota Statutes, section 462A.202,
1.18subdivision 7, do not apply to this appropriation.
1.19 Subd. 2. Bond sale. To provide the money appropriated in this section from the
1.20bond proceeds fund, the commissioner of management and budget shall sell and issue
1.21bonds of the state in an amount up to $15,000,000 in the manner, upon the terms, and with
1.22the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
1.23Minnesota Constitution, article XI, sections 4 to 7.
2.1EFFECTIVE DATE.This section is effective the day following final enactment.
