Bill would require referral of bills that raise housing costs above $3,000 to housing committee; supporters cite market pressure

Chair Igoe introduced House File 2,492, a short bill that would add a referral requirement to state statute: any bill that increases the cost of housing by more than $3,000 would be referred to the House Committee on Housing Finance and Policy for review.

Igoe said the aim is to give the housing committee “a seat at the table” when other committees consider proposals that could raise housing costs, citing examples from Labor and Industry or Energy that could add to construction or remodeling expenses. Igoe said $3,000 was chosen as a starting point because smaller amounts ($1,000) quickly affect affordability; he invited further committee input on the threshold.

Matt Spellman, senior director of advocacy for Minnesota Realtors, testified in support and noted rising median home prices statewide. “The statewide median price of a home was $345,000,” Spellman said, citing the Realtors’ 2024 year-end report and the 10-year trend in rising prices. He told the committee the bill would help the legislature “be thoughtful” about policies that add cost to housing construction or remodeling.

Members asked practical questions about how many bills might meet the threshold, who would decide whether a proposal met it, and whether the threshold should be higher or left to the committee chair’s discretion. Igoe said the $3,000 figure was a starting point and that the bill is being laid over so members can refine the approach.

House File 2,492 was laid over for possible inclusion; the committee took no final vote or referral at this hearing.