Minnesota HF 4617: Portion of local government aid dedicated to cities for pre-1940 housing improvements.

Bill Text

1.1 A bill for an act​
1.2 relating to taxation; property; dedicating a portion of local government aid to cities​
1.3 for pre-1940 housing improvements; amending Minnesota Statutes 2022, section​
1.4 477A.013, by adding a subdivision.​
1.5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:​
1.6 Section 1. Minnesota Statutes 2022, section 477A.013, is amended by adding a subdivision​
1.7 to read:​
1.8 Subd. 15.Dedicated use of pre-1940 housing aid.(a) A city receiving aid under​
1.9 subdivision 9 in any year must dedicate an amount of aid equal to the city's pre-1940 housing​
1.10 percentage under section 477A.011, subdivision 30, multiplied by its city formula aid amount​
1.11 to fund urban renewal projects on pre-1940 housing, including but not limited to updating​
1.12 utilities and infrastructure and updating or improving wiring, plumbing, insulation, heating,​
1.13 cooling, or efficiency systems. The aid may be used directly for the purposes under this​
1.14 paragraph or as a combination of grants or low interest loans to property owners.​
1.15 (b) If the amount calculated under this subdivision is less than $100, the minimum​
1.16 dedication amount of aid for these programs is zero. The amount of aid going to housing​
1.17 programs under this subdivision is in addition to any other money from grants, fees, or other​
1.18 sources that are dedicated to housing programs.​
1.19 EFFECTIVE DATE.This section is effective for aids payable in calendar year 2024​
1.20 and thereafter.​
1​Section 1.​
REVISOR KRB/JO 24-07459​02/29/24 ​
State of Minnesota​
This Document can be made available​
in alternative formats upon request​
HOUSE OF REPRESENTATIVES​
H. F. No. 4617​
NINETY-THIRD SESSION​
Authored by Quam; Davids; Anderson, P. H., and Koznick​03/07/2024​
The bill was read for the first time and referred to the Committee on Taxes​