Plain English Breakdown
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SF3721 • 2026
Verification of eligibility requirement for first-generation homebuyers down payment assistance
Verification of eligibility requirement for first-generation homebuyers down payment assistance
Passed Legislature
This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.
Bill History
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2026-02-23
House
Introduction and first reading
Official Summary Text
Verification of eligibility requirement for first-generation homebuyers down payment assistance
Current Bill Text
Read the full stored bill text
A bill for an act relating to housing; requiring verification of eligibility for first-generation homebuyers down payment assistance; amending Minnesota Statutes 2024, section 462A.41, by adding subdivisions. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: Section 1. Minnesota Statutes 2024, section 462A.41, is amended by adding a subdivision to read: new text begin Subd. 2a. new text end new text begin Application. new text end new text begin (a) The agency shall develop forms and procedures for soliciting and reviewing applications for assistance under this section. The agency must evaluate complete applications for assistance to determine the eligibility of each applicant under subdivision 2. If the agency partners with a community organization to deliver assistance, as permitted under subdivision 1, the community organization must use the forms developed by the agency and verify the eligibility of each applicant. new text end new text begin (b) Each application must be accompanied by an affidavit created by the agency. The affidavit must include a statement affirming compliance with the requirements in subdivision 2, general penalty warnings, and a disclaimer that any false or misrepresented information is subject to prosecution for fraud under sections 609.52 and 609.821 and perjury under section 609.48. An applicant must sign the affidavit to complete an application. new text end new text begin (c) The applicant has the burden of providing documentary evidence to verify eligibility. To the extent practicable, the agency may assist an applicant in obtaining verifications and required documents when the applicant is unable to do so. The agency must verify the eligibility of each applicant before the agency or community partner issues down payment assistance under this section. new text end new text begin EFFECTIVE DATE. new text end new text begin This section is effective the day following final enactment. new text end Sec. 2. Minnesota Statutes 2024, section 462A.41, is amended by adding a subdivision to read: new text begin Subd. 6. new text end new text begin Audit. new text end new text begin Each year that disbursements are made through the first-generation homebuyers down payment assistance fund, the agency must issue a report on the fund by January 15 of the following year. The report must include a statement describing the disbursements provided and include a financial audit of the program conducted by an independent party. new text end