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Twin Cities sales tax bump will fund affordable housing programs
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.
The legislation will create a new statewide rental voucher system for about 5,000 families a year, which will reduce waiting times for Section 8 subsidized housing, and provide aid for more than 5,000 first-generation homebuyers. About half the $1 billion total would go toward increasing the housing supply across the state.