Senate finance panel advances housing omnibus with task force on property insurance, targeted funding for homelessness prevention

Senator Port introduced Senate File 2298, the housing omnibus budget bill, to the Senate Finance Committee on April 9, saying Minnesota faces rising housing costs and that the bill focuses on homelessness prevention, workforce housing infrastructure in Greater Minnesota and programs to help first-time homebuyers. "The cost of housing is higher than ever in Minnesota, and the dream of homeownership is slipping out of reach for more and more families," Senator Port said.

The committee adopted two amendments affecting bill language and scope. Senator Murphy moved and the committee adopted a technical amendment (A8) that, according to Senator Port, revises fiscal-year phrasing for consistency. Senator Friend moved and the committee adopted the A9 amendment, which narrowed the scope of a proposed task force on property insurance; the amendment removed common-interest communities, cooperatives and small businesses from the task force's charge so members can focus on residential and commercial property insurance related to multifamily housing.

Senator Port described the task force's charge as examining factors driving rising insurance costs, reviewing risk mitigation, liability,…