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Committee sends MHEFA expansion bill to General Register after committee vote
Summary
House File 1165 would rename the Minnesota Higher Education Facilities Authority to include health care and expand its financing scope to health care and senior living; the committee voted to send the bill to the General Register after discussion about scope and guardrails.
Representative Ben Bonner presented House File 11 65 to expand the Minnesota Higher Education Facilities Authority’s scope to include health care and senior living projects, rename the authority the Minnesota Health and Education Facilities Authority (retaining the MHEFA acronym), and increase its financing capacity.
Bonner said MHEFA is self-funded, charges lower fees, and poses no cost to the state budget. Barry Fick, the authority’s executive director, told the committee the agency currently has about $1.2 billion outstanding and last year’s expansion increased its bonding capacity to $2…
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