Funding provided for a special purpose credit loan program through Build Wealth MN, and money appropriated.

Passed Legislature

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

Sponsor: Agbaje, Xiong
Last action: 2026-04-09
Official status: Author added Xiong
Effective date: Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

2026-04-09 House
Author added Xiong
2026-04-07 House
Introduction and first reading, referred to Housing Finance and Policy

Official Summary Text

Funding provided for a special purpose credit loan program through Build Wealth MN, and money appropriated.

Current Bill Text

Read the full stored bill text

A bill for an act

relating to housing; appropriating money for a special purpose credit loan program

through Build Wealth MN.

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

Section 1.
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BUILD WEALTH MN; APPROPRIATION.
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$2,000,000 in fiscal year 2027 is appropriated from the general fund to the commissioner

of the Housing Finance Agency for a grant to Build Wealth MN to expand and administer

a special purpose credit loan program, a revolving loan pool used to provide affordable

mortgage financing to underserved borrowers in communities of color. This is a onetime

appropriation.

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