Granting the board of trustees of the Minnesota state colleges and universities (MnSCU) certain additional property transactions, construction, repairs and improvements authority; authorizing the board to build, sell or transfer personal property, clarifying the determination of fair market value for property sale purposes, making optional the requirement for landowner compensation to the board for improvements to real property not owned by the board, providing more warranty options and authorizing the sale of personal or real property resulting from instructional construction to state employees under certain conditions under the technical college carpentry program; authorizing the board to acquire real property as necessary for state college or university development; providing for disposal of real estate determined to be surplus by the board, for transfer of state college or university owned improvements and for leasing of state college or university real property; authorizing certain repairs or minor capital projects financed with operating appropriations or institutional receipts without specific legislative authority(ra)