Education and Housing budgets provide historic investments for the needs of Minnesota families
SAINT PAUL, Minn. – The Senate has passed two more omnibus budget bills this week, advancing an Education finance bill that provides over $2 billion in new funding for students and schools, and a Housing finance bill that will invest over $1 billion for housing construction, affordability, and access.
“The budget we are building reflects our values and priorities and makes strong investments in the needs facing our families. Making these historic investments to ensure stable, affordable housing and a world-class education for all our kids is exactly the work we should be doing,” said Senator Liz Boldon (DFL-Rochester), who serves as Vice-Chair of the Housing and Homelessness Prevention Committee. “This budget continues to put Minnesotans first, and I’m proud to vote yes for these bills and the positive impact they will make in the lives of working families.”
The Senate has passed two omnibus budget bills this week, passing the Education budgetMonday and passing the Housing and Homelessness Prevention budget Tuesday, with highlights including but not limited to:
Education Budget:
- 4% and 5% Formula Allowance Increases
- $49 million in Student Support Personnel Aid
- $653.6 million for the Special Education Cross Subsidy Reduction
- $300 million for Early Childhood
- $71 million for the Increase Teachers of Color and American Indian Teachers Act
Housing and Homelessness Prevention Budget:
- Housing Infrastructure Bonds and one-time funds: $350 million
- The Challenge Program for single family and rental housing: $100 million
- Home Ownership Investment Grants: $80 million
- Workforce and Affordable Homeownership Program: $35 million
- Greater MN Workforce Housing Development Program: $40 million
- Community Stabilization for naturally occurring affordable housing opportunities: $100 million
- Manufactured home park preservation, including grants for purchases by cooperatives: $50 million
- Bring it Home Statewide rental assistance program to provide vouchers to families with children to cap rent at 30% of household income: $131.33 million ($20 million ongoing)
- Family Homeless Prevention and Assistance program: $50 million
- Down-payment assistance for a new first-generation homebuyer program: $100 million
- Home Ownership Assistance Fund: $25 million
Both the Education and Housing budget bills will now go to conference committee with the House.
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