Minnesota HF112 modifies the definition of financial assistance to include certain tax increment financing or allocations of low-income housing.

Minnesota HF112 amends the definition of financial assistance to include tax increment financing and allocations of low-income housing credits, while excluding certain tax exemptions. It also expands the definition of project to include facilities, land, or public works financed by state funds or owned by local governments. The bill specifies that financial assistance does not include payments for economic development purposes, such as grants or loans for new housing construction. The changes are effective for financial assistance provided after August 1, 2025.

Minnesota HF112 modifies the definition of financial assistance to include certain tax increment financing or allocations of low-income housing.

Minnesota HF112 amends the definition of financial assistance to include tax increment financing and allocations of low-income housing credits, while excluding certain tax exemptions. It also expands the definition of project to include facilities, land, or public works financed by state funds or owned by local governments. The bill specifies that financial assistance does not include payments for economic development purposes, such as grants or loans for new housing construction. The changes are effective for financial assistance provided after August 1, 2025.