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SF 1906

Exceptions permission to income limits of the Minnesota housing tax credit contribution account grant and loan program for certain workforce housing projects

2025-2026 Regular Session Introduced by Karin Housley and 1 co-sponsor

Overview: SF 1906 - Exceptions permission to income limits of the Minnesota housing tax credit contribution account grant and loan program for certain workforce housing projectsPur

Referred to Housing and Homelessness Prevention
#housingandhousingfinanceagency
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Bill Summary · SF 1906

Overview: SF 1906 - Exceptions permission to income limits of the Minnesota housing tax credit contribution account grant and loan program for certain workforce housing projects
Purpose and Intent: The bill aims to provide exceptions to the income limits for the Minnesota housing tax credit contribution account grant and loan program, specifically for certain workforce housing projects. This is intended to support the development and preservation of affordable housing options for the state's workforce.
Key Provisions:
- Allows the Minnesota Housing Finance Agency to grant exceptions to the income limits for the housing tax credit contribution account program for workforce housing projects
- Specifies that the exceptions can be granted for projects that serve households with incomes up to 80% of the area median income
- Requires the agency to establish criteria and procedures for granting these exceptions
Affected Parties and Impacts: The bill would primarily benefit developers of workforce housing projects, as well as low- and moderate-income households seeking affordable housing options. By expanding the income eligibility, the program can support a wider range of households and help address the state's affordable housing needs.
Procedural and Timeline Considerations: The bill has been referred to the Housing and Homelessness Prevention committee for further consideration. If passed, the changes would take effect upon enactment and apply to future grant and loan applications.

Compiled from official sources — confirm details with the bill’s official record.

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