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HF 4842 Minnesota House · 2025-2026 Regular Session

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

HF 4842 allocates $2 million from the state's general fund in fiscal year 2027 to Build Wealth MN. This one-time appropriation is intended to expand and administer a special purpose credit loan program that provides affordable mortgage financing to underserved borrowers in communities of color. The funds will be managed by the commissioner of the Housing Finance Agency to create a revolving loan pool for these specific lending activities.
Issues: ✓ Budget & TaxesSupports Budget & TaxesBill allocates $2M from general fund to expand affordable mortgage financing for underserved borrowers, directly increasing funding for essential housing services.90% confidence ✓ HousingSupports HousingBill allocates $2M to fund affordable mortgage financing for underserved borrowers, directly advancing housing access.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Apr 2026
Committee Review
Floor Vote
Governor
Introduced Apr 7, 2026 Last action Apr 9, 2026
Floor votes

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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
0
Apr 7, 2026
Introduced
Introduction and first reading, referred to Housing Finance and Policy
lower
1 primary · 1 co-sponsor

Sponsors

Role
Legislator
Party
State
District
P
Photo of Esther Agbaje
Esther Agbaje
DDemocratic-Farmer-Labor
MN
59B
Co
Photo of Jay Xiong
Jay Xiong
DDemocratic-Farmer-Labor
MN
67B