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Committee hears testimony in favor of expanding FAME program funding
Summary
Lawmakers and participants praised the Family Assets for Independence in Minnesota (FAME) program as a path to homeownership, education and small-business starts; the committee laid House File 776 over for possible omnibus inclusion after testimony and member questions about outcomes and funding levels.
House File 776, carried by Vice Chair Hansen, would add $1.5 million to the FAME (Family Assets for Independence in Minnesota) program’s base funding for each fiscal year in the 2026–27 biennium to sustain and expand the program’s matching savings accounts and financial coaching network.
David Snyder, director of FAME based at West Central Minnesota Community Action, testified the program triples participant savings (up to $4,000 saved by the participant) to help low-income…
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