Locally controlled housing fund established, report required, and money appropriated.

HF 2148 establishes a locally controlled housing fund within Minnesota's housing development fund to finance affordable housing projects. The fund provides loans to eligible recipients - including cities, counties, tribes, community land trusts, and housing authorities - to acquire, rehabilitate, or build housing where local entities maintain at least 75% ownership control. Projects must include 30% of units for households earning ≤50% of area median income (AMI) and 30% for households earning 50-100% of AMI, with all housing meeting accessibility standards and avoiding income-based segregation. Repayments to the fund are reinvested to support additional affordable housing production in the recipient’s jurisdiction.