Local public housing program funding provided, bonds issued, and money appropriated.

This bill directs the Minnesota Housing Finance Agency to receive $15 million in funding for the local public housing program, with half coming from state bonds and the other half from the general fund. The money must be used specifically for qualified capital projects, such as repairs or improvements to existing public housing. The state will issue up to $15 million in bonds to help pay for this portion of the funding, following established legal procedures for state borrowing. The bill takes effect immediately upon final passage by the legislature.