Office of the Revisor of Statutes
SF 2881
Introduction - 94th Legislature (2025 - 2026)
Posted on 07/09/2025 02:56 p.m.
Bill Text Versions
| Engrossments | ||
|---|---|---|
|
Introduction
PDF
|
Posted on 03/20/2025 |
1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18 1.19 1.20 1.21 1.22 2.1 2.2
2.3 2.4 2.5 2.6 2.7 2.8 2.9 2.10 2.11 2.12 2.13 2.14 2.15 2.16 2.17 2.18 2.19 2.20 2.21 2.22 2.23 2.24 2.25 2.26 2.27 2.28 2.29 2.30 2.31 2.32 2.33 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9 3.10 3.11 3.12 3.13 3.14 3.15 3.16 3.17
A bill for an act
relating to higher education; modifying the allocation of mining royalty income
within the permanent university fund; amending Minnesota Statutes 2024, section
137.022, subdivisions 3, 4.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2024, section 137.022, subdivision 3, is amended to read:
Subd. 3.
Endowed chair account.
(a) For purposes of this section, the permanent
university fund has three accounts. The sources of the money in the endowed mineral
research and new text begin endowed new text end scholarship accounts are set out in paragraph (b) and subdivision 4.
All money in the fund that is not otherwise allocated is in the endowed chair account. The
income from the endowed chair account must be used, and capital gains allocated to that
account may be used, to provide endowment support for professorial chairs in academic
disciplines. The endowment support for the chairs from the income and the capital gains
must not total more than six percent per year of the 36-month trailing average market value
of the endowed chair account of the fund, as computed quarterly or otherwise as directed
by the regents. The endowment support from the income and the capital gains must not
provide more than half the sum of the endowment support for all university chairs and
professorships endowed, with nonstate sources providing the remainder. The endowment
support from the income and the capital gains may provide more than half the endowment
support of an individual chair.
(b) If any portion of the annual appropriation of the income is not used for the purposes
specified in paragraph (a) or subdivision 4, that portion lapses and must be added to the
principal of the three accounts of the permanent university fund in proportion to the market
value of each account.
Sec. 2.
Minnesota Statutes 2024, section 137.022, subdivision 4, is amended to read:
Subd. 4.
Mineral research; scholarships.
(a) All income credited after July 1, 1992,
to the permanent university fund from royalties for mining under state mineral leases from
and after July 1, 1991, must be allocated as provided in this subdivision.
(b)deleted text begin (1)deleted text end Beginning January 1, deleted text begin 2013deleted text end new text begin 2026new text end , deleted text begin 50 percent ofdeleted text end the income must be allocated
according to this paragraph.
deleted text begin One-halfdeleted text end new text begin (1) One-fourthnew text end of the income under this paragraph, up to deleted text begin $50,000,000deleted text end new text begin
$150,000,000new text end , must be credited to the new text begin endowed new text end mineral research account of the fund deleted text begin to be
allocated for the Natural Resources Research Institute-Duluth and Coleraine facilities,deleted text end for
mineral and mineral-related researchnew text begin ,new text end including mineral-related environmental researchnew text begin , at
the Natural Resources Research Institute-Duluth and Coleraine facilitiesnew text end .
deleted text begin The other one-halfdeleted text end new text begin (2) One-fourthnew text end of the income under this paragraph, up to $25,000,000,
deleted text begin isdeleted text end new text begin must benew text end credited to an endowment for deleted text begin the costs ofdeleted text end operating mining, mineral, new text begin and
new text end mineral-relateddeleted text begin ,deleted text end new text begin degree programsnew text end or science, technology, engineering, and mathematics
(STEM) degree programs offered through the University of Minnesota at Minnesota North
College and the new text begin University of Minnesota Duluth new text end Swenson College of Science and Engineering
deleted text begin at Duluthdeleted text end to support workforce development and collaborations benefiting regional
academics, industry, and natural resources on the Iron Range in northeast Minnesotanew text begin ,new text end and
for new text begin providing new text end scholarships for Minnesota students, prioritizing students in the Minnesota
Economic Development Region 3, to attend the mining, mineral, mineral-related, or STEM
new text begin degree new text end programs. The maximum scholarship awarded to attend the degree programs funded
under this paragraph cannot exceed 75 percent of current resident tuition rates per academic
year and may be awarded a maximum of four academic years.
new text begin
(3) One-fourth of the income under this paragraph must be credited to the Natural
Resources Research Institute for general operating and research costs.
new text end
deleted text begin (2) The remainder of the income under paragraph (a)deleted text end new text begin (4) One-fourth of the income under
this paragraph,new text end plus the deleted text begin amount of anydeleted text end new text begin remainder of thenew text end income new text begin allocated new text end under clause (1)
after deleted text begin $50,000,000deleted text end new text begin $150,000,000new text end has been credited to the new text begin endowed new text end mineral research account
deleted text begin for the Natural Resources Research Institute and the amount of any income over the
$25,000,000 for the programming in clause (1)deleted text end new text begin and the remainder of the income allocated
under clause (2) after $25,000,000 has been credited to an endowment for mining, mineral,
mineral-related, or STEM degree programs and scholarships,new text end must be credited to the endowed
scholarship account of the fund for distribution annually for scholastic achievement as
provided by the Board of Regents to undergraduates enrolled at the University of Minnesota
who are resident students as defined in section 136A.101, subdivision 8.
(c) The annual distribution from the endowed scholarship account must be allocated to
the various campuses of the University of Minnesota in proportion to the number of
undergraduate resident students enrolled on each campus.
(d) The Board of Regents must report to the education committees of the legislature
biennially at the time of the submission of its budget request on the disbursement of money
from the endowed scholarship account and to the environment and natural resources
committees on the use of the mineral research account.
(e) Capital gains and losses and portfolio income of the permanent university fund must
be credited to its three accounts in proportion to the market value of each account.
(f) The endowment support from the income and capital gains of the endowed mineral
research and endowed scholarship accounts of the fund must not total more than six percent
per year of the 36-month trailing average market value of the account from which the support
is derived.