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HF 2754

Minnesota Housing Finance Agency audit required, report required, and money appropriated.

2025-2026 Regular Session Introduced by Esther Agbaje and 1 co-sponsor

The bill requires an audit of the Minnesota Housing Finance Agency, a formal audit findings report, and funding to cover the audit and reporting.

Introduction and first reading, referred to Housing Finance and Policy
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Bill Summary · HF 2754

Summary of HF 2754 (Minnesota)

Overview

HF 2754 is a bill introduced in the Minnesota House on March 24, 2025. The bill is classified as an appropriations and governmental operations measure related to housing and the Minnesota Housing Finance Agency (MHFA). It was introduced and assigned to the Housing Finance and Policy Committee for its first reading. A Senate companion bill is SF 2737.

  • Bill Number: HF 2754
  • Title: Minnesota Housing Finance Agency audit required, report required, and money appropriated
  • Status: Introduction and first reading; referred to Housing Finance and Policy
  • Introduced: March 24, 2025
  • Companion: SF 2737

Purpose and Intent (as inferred from the title)

The bill appears to aim at strengthening oversight and accountability of MHFA by:
- Requiring an audit of the Minnesota Housing Finance Agency.
- Requiring a formal report detailing the audit findings.
- Appropriating funds to support the audit and reporting requirements.

Key Provisions (as introduced)

Note: The exact statutory language and specifics (scope, timeline, and amounts) will be defined in the full bill text. Based on the title and common practice, expected elements include:

  • Audit Requirement

    • An independent or state-contracted audit of MHFA.
    • Scope to be determined in the bill or accompanying fiscal note.
    • Potentially includes financial, governance, and programmatic elements.

  • Reporting Requirement

    • A formal report detailing audit findings, recommendations, and MHFA actions in response.
    • Report likely to be submitted to the Legislature (e.g., committee chairs or relevant oversight committees) within a specified timeframe after the audit.

  • Appropriations

    • A funding authorization to cover costs associated with the audit and reporting.
    • Amount, source (likely budgetary appropriations), and duration to be specified in the enacted text or fiscal note.

Who Would Be Affected

  • Minnesota Housing Finance Agency (MHFA): Primary subject of the audit and reporting requirements; responsible for cooperating with the audit and preparing any required agency responses.
  • Minnesota Legislature and Committees: Receives the audit findings and the mandated report; oversight role enhanced.
  • Potentially the Department of Management and Budget or related state accounts for handling the appropriation.

Procedural and Timeline Aspects

  • Introduced and first reading on March 24, 2025.
  • Referred to the Housing Finance and Policy Committee (House).
  • Timeline for action will depend on committee deliberations, passage through the chamber, and eventual reconciliation with the Senate companion (SF 2737) if enacted.

Related Legislation

  • SF 2737 (Senate companion): Likely parallel provisions, providing consistency between House and Senate proposals and enabling joint consideration.

Potential Impact and Considerations

  • Oversight and Transparency: Increased accountability of MHFA through formal audit and reporting.
  • Budget Implications: New appropriation to fund the audit and reporting; impact on MHFA’s program funding depending on the amount.
  • Implementation Details: Key aspects to watch include audit scope, reporting deadlines, data accessibility, and how MHFA must respond to recommendations.

For readers seeking full specifics (scope, dates, amounts), the enacted text and fiscal note will provide the definitive details once the bill progresses.

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

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