Twin Cities sales tax bump will fund affordable housing programs
May 11, 2023 11:52AM CDT
ST. PAUL, Minn. (AP) — Sales taxes in the Twin Cities metropolitan area will get a 0.25% bump to fund affordable housing under a bill awaiting the signature of Gov. Tim Walz.
The bill gives a record $1 billion boost to housing programs overall, but most of it is one-time money from the state’s $17.5 billion budget surplus. About half the $1 billion total would go toward increasing the housing supply across the state.
The Senate voted 34-32 Tuesday to approve the agreement, which was worked out by a conference committee. The House backed it on a 70-61 vote Monday. Walz supports it.