HF4234 • 2026

Aggregate bond limitation applicable to the allocation of private activity bonds for qualifying residential rental projects reduced.

Housing

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Rehrauer, Igo
Last action: 2026-03-12
Official status: Introduction and first reading, referred to Taxes
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Aggregate bond limitation applicable to the allocation of private activity bonds for qualifying residential rental projects reduced.

What This Bill Does

Aggregate bond limitation applicable to the allocation of private activity bonds for qualifying residential rental projects reduced.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2026-03-12 House
Introduction and first reading, referred to Taxes

Official Summary Text

Aggregate bond limitation applicable to the allocation of private activity bonds for qualifying residential rental projects reduced.

Current Bill Text

Read the full stored bill text

A bill for an act

relating to public finance; reducing the aggregate bond limitation applicable to the

allocation of private activity bonds for qualifying residential rental projects;

amending Minnesota Statutes 2024, section 474A.02, subdivision 1a.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2024, section 474A.02, subdivision 1a, is amended to read:

Subd. 1a.

Aggregate bond limitation.

"Aggregate bond limitation" means
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up to 55
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the

greater of: (1) 30
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percent of the reasonably expected aggregate basis of a residential rental

project and the land on which the project is or will be located
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; or (2) the maximum

supportable permanent amortizing debt, subject to a maximum of 40 percent of the reasonably

expected aggregate basis of a residential rental project and the land on which the project is

or will be located
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.

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EFFECTIVE DATE.

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This section is effective January 1, 2027.

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