HF 3590

as introduced - 92nd Legislature (2021 - 2022) Posted on 02/17/2022 02:19pm

A bill for an act
relating to capital investment; requiring appropriations for capital projects
authorized in a regular or special session of the 2022 legislature to be paid for with
general fund money.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin CAPITAL PROJECTS TO BE FINANCED WITH GENERAL FUND
APPROPRIATIONS.
new text end

new text begin Subdivision 1. new text end

new text begin General fund money to pay for 2022 capital projects. new text end

new text begin (a) Any
appropriation enacted in a regular or special session of the 2022 legislature for a capital
project that is authorized to be financed with general obligation bond proceeds in accordance
with the Minnesota Constitution, article XI, section 5, and the provisions of Minnesota
Statutes, chapter 16A, or trunk highway bond proceeds in accordance with the Minnesota
Constitution, articles XI and XIV, must fund the project as described in the appropriation
solely with money from the state general fund.
new text end

new text begin (b) If an appropriation is enacted in a regular or special session of the 2022 legislature
before the effective date of this section that authorizes the issuance of state general obligation
bonds or trunk highway bonds for a capital project, the commissioner of management and
budget must not sell and issue such bonds but must use general fund money appropriated
under subdivision 2 to provide money for the capital project appropriation.
new text end

new text begin (c) For the purposes of this section, "capital project" means a project to acquire and
better public land and buildings and other improvements of a capital nature, or a project for
capital improvements to the trunk highway system.
new text end

new text begin Subd. 2. new text end

new text begin Appropriation. new text end

new text begin The amount necessary in fiscal year 2023 is appropriated from
the general fund to the commissioner of management and budget for the purposes of this
section.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end