On July 1st, 2021, the Minnesota Legislature, during a special session, passed an omnibus tax bill (HF9) that included several important changes impacting affordable housing in the state. While much of the multi-faceted tax bill is designed to help the State achieve conformity with recent Federal Covid-19 related assistance programs, there are several actions that impact the real estate marketplace, and in particular affordable housing. The following Here are a few highlights of the bill that relate to real estate:
This is just a small portion of bill that was passed. Click here for a copy of the complete bill.