<div class="xtend">
         <div class="xtend_ce"><a id="pl.1.1"></a><var>1.1</var>A bill for an act<br />
            		
         </div><a id="pl.1.2"></a><var>1.2</var>relating to the permanent school fund; changing the Permanent School Fund <br />
         		<a id="pl.1.3"></a><var>1.3</var>Advisory Committee into a legislative commission; providing for an advisor <br />
         		<a id="pl.1.4"></a><var>1.4</var>for school trust lands;amending Minnesota Statutes 2010, sections 15A.0815, <br />
         		<a id="pl.1.5"></a><var>1.5</var>subdivision 3; 16A.06, subdivision 11; 16A.125, subdivision 5; 84.027, <br />
         		<a id="pl.1.6"></a><var>1.6</var>subdivision 18; 94.342, subdivision 5; 127A.30; proposing coding for new law <br />
         		<a id="pl.1.7"></a><var>1.7</var>in Minnesota Statutes, chapter 127A.<br />
         		<a id="pl.1.8"></a><var>1.8</var>BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:<br />
         		<br />
         		<a id="bill.0.1.0"></a><a id="pl.1.9"></a><var>1.9</var>&nbsp;&nbsp;&nbsp;&nbsp;Section 1. Minnesota Statutes 2010, section 15A.0815, subdivision 3, is amended to <br />
         		<a id="pl.1.10"></a><var>1.10</var>read:<br />
         		<a id="pl.1.11"></a><var>1.11</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 3. <b>Group II salary limits.</b> The salaries for positions in this subdivision may <br />
         		<a id="pl.1.12"></a><var>1.12</var>not exceed 85 percent of the salary of the governor:<br />
         		<a id="pl.1.13"></a><var>1.13</var>&nbsp;&nbsp;&nbsp;&nbsp;Executive director of Gambling Control Board;<br />
         		<a id="pl.1.14"></a><var>1.14</var>&nbsp;&nbsp;&nbsp;&nbsp;Commissioner, Iron Range Resources and Rehabilitation Board;<br />
         		<a id="pl.1.15"></a><var>1.15</var>&nbsp;&nbsp;&nbsp;&nbsp;Commissioner, Bureau of Mediation Services;<br />
         		<a id="pl.1.16"></a><var>1.16</var>&nbsp;&nbsp;&nbsp;&nbsp;Ombudsman for Mental Health and Developmental Disabilities;<br />
         		<a id="pl.1.17"></a><var>1.17</var>&nbsp;&nbsp;&nbsp;&nbsp;Chair, Metropolitan Council; <br />
         		<a id="pl.1.18"></a><var>1.18</var>&nbsp;&nbsp;&nbsp;&nbsp;School trust lands advisor; <br />
         		<a id="pl.1.19"></a><var>1.19</var>&nbsp;&nbsp;&nbsp;&nbsp;Executive director of pari-mutuel racing; and<br />
         		<a id="pl.1.20"></a><var>1.20</var>&nbsp;&nbsp;&nbsp;&nbsp;Commissioner, Public Utilities Commission.<br />
         		<br />
         		<a id="bill.0.2.0"></a><a id="pl.1.21"></a><var>1.21</var>&nbsp;&nbsp;&nbsp;&nbsp;Sec. 2. Minnesota Statutes 2010, section 16A.06, subdivision 11, is amended to read:<br />
         		<a id="pl.1.22"></a><var>1.22</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 11. <b>Permanent school fund reporting.</b> The commissioner shall annually <br />
         		<a id="pl.1.23"></a><var>1.23</var>report to the Legislative-Citizen Permanent School Fund Advisory Committee <br />
         		<a id="pl.1.24"></a><var>1.24</var>Commission, and the legislature the amount of the permanent school fund transfer and <br />
         		<a id="pl.2.1"></a><var>2.1</var>information about the investment of the permanent school fund provided by the State <br />
         		<a id="pl.2.2"></a><var>2.2</var>Board of Investment. The State Board of Investment shall provide information about how <br />
         		<a id="pl.2.3"></a><var>2.3</var>they maximized the long-term economic return of the permanent school fund.<br />
         		<br />
         		<a id="bill.0.3.0"></a><a id="pl.2.4"></a><var>2.4</var>&nbsp;&nbsp;&nbsp;&nbsp;Sec. 3. Minnesota Statutes 2010, section 16A.125, subdivision 5, is amended to read:<br />
         		<a id="pl.2.5"></a><var>2.5</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 5. <b>Forest trust lands.</b> (a) The term "state forest trust fund lands" as used <br />
         		<a id="pl.2.6"></a><var>2.6</var>in this subdivision, means public land in trust under the Constitution set apart as "forest <br />
         		<a id="pl.2.7"></a><var>2.7</var>lands under the authority of the commissioner" of natural resources as defined by section <br />
         		
         <statute_ref><a id="pl.2.8"></a><var>2.8</var>89.001, subdivision 13
         </statute_ref>.<br />
         		<a id="pl.2.9"></a><var>2.9</var>(b) The commissioner of management and budget shall credit the revenue from the <br />
         		<a id="pl.2.10"></a><var>2.10</var>forest trust fund lands to the forest suspense account. The account must specify the trust <br />
         		<a id="pl.2.11"></a><var>2.11</var>funds interested in the lands and the respective receipts of the lands.<br />
         		<a id="pl.2.12"></a><var>2.12</var>(c) After a fiscal year, the commissioner of management and budget shall certify the <br />
         		<a id="pl.2.13"></a><var>2.13</var>total costs incurred for forestry during that year under appropriations for the protection, <br />
         		<a id="pl.2.14"></a><var>2.14</var>improvement, administration, and management of state forest trust fund lands and <br />
         		<a id="pl.2.15"></a><var>2.15</var>construction and improvement of forest roads to enhance the forest value of the lands. The <br />
         		<a id="pl.2.16"></a><var>2.16</var>certificate must specify the trust funds interested in the lands. After presentation to the <br />
         		<a id="pl.2.17"></a><var>2.17</var>Legislative-Citizen Permanent School Fund Commission, the commissioner of natural <br />
         		<a id="pl.2.18"></a><var>2.18</var>resources shall supply the commissioner of management and budget with the information <br />
         		<a id="pl.2.19"></a><var>2.19</var>needed for the certificate. The certificate shall include an analysis that compares costs <br />
         		<a id="pl.2.20"></a><var>2.20</var>certified under this section with costs incurred on other public and private lands with <br />
         		<a id="pl.2.21"></a><var>2.21</var>similar land assets.<br />
         		<a id="pl.2.22"></a><var>2.22</var>(d) After a fiscal year, the commissioner shall distribute the receipts credited to the <br />
         		<a id="pl.2.23"></a><var>2.23</var>suspense account during that fiscal year as follows:<br />
         		<a id="pl.2.24"></a><var>2.24</var>(1) the amount of the certified costs incurred by the state for forest management, <br />
         		<a id="pl.2.25"></a><var>2.25</var>forest improvement, and road improvement during the fiscal year shall be transferred to <br />
         		<a id="pl.2.26"></a><var>2.26</var>the forest management investment account established under section 
         <statute_ref>89.039</statute_ref>;<br />
         		<a id="pl.2.27"></a><var>2.27</var>(2) the balance of the certified costs incurred by the state during the fiscal year <br />
         		<a id="pl.2.28"></a><var>2.28</var>shall be transferred to the general fund; and<br />
         		<a id="pl.2.29"></a><var>2.29</var>(3) the balance of the receipts shall then be returned prorated to the trust funds in <br />
         		<a id="pl.2.30"></a><var>2.30</var>proportion to their respective interests in the lands which produced the receipts.<br />
         		<a id="pl.2.31"></a><var>2.31</var><b>EFFECTIVE DATE.</b>This section is effective July 1, 2013.<br />
         		<br />
         		<a id="bill.0.4.0"></a><a id="pl.2.32"></a><var>2.32</var>&nbsp;&nbsp;&nbsp;&nbsp;Sec. 4. Minnesota Statutes 2010, section 84.027, subdivision 18, is amended to read:<br />
         		<a id="pl.2.33"></a><var>2.33</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 18. <b>Permanent school fund authority; reporting.</b> (a) The commissioner of <br />
         		<a id="pl.2.34"></a><var>2.34</var>natural resources has the authority and responsibility for the administration of school trust <br />
         		<a id="pl.3.1"></a><var>3.1</var>lands under sections 
         <statute_ref>92.121</statute_ref> and 
         <statute_ref>127A.31</statute_ref>. The commissioner shall biannually report to the <br />
         		<a id="pl.3.2"></a><var>3.2</var>Permanent School Fund Advisory Committee Legislative-Citizen Permanent School Fund <br />
         		<a id="pl.3.3"></a><var>3.3</var>Commission and the legislature on the management of the school trust lands that shows <br />
         		<a id="pl.3.4"></a><var>3.4</var>how the commissioner has and will continue to achieve the following goals:<br />
         		<a id="pl.3.5"></a><var>3.5</var>&nbsp;&nbsp;&nbsp;&nbsp;(1) manage the school trust lands efficiently;<br />
         		<a id="pl.3.6"></a><var>3.6</var>&nbsp;&nbsp;&nbsp;&nbsp;(2) reduce the management expenditures of school trust lands and maximize the <br />
         		<a id="pl.3.7"></a><var>3.7</var>revenues deposited in the permanent school trust fund;<br />
         		<a id="pl.3.8"></a><var>3.8</var>&nbsp;&nbsp;&nbsp;&nbsp;(3) manage the sale, exchange, and commercial leasing of school trust lands to <br />
         		<a id="pl.3.9"></a><var>3.9</var>maximize the revenues deposited in the permanent school trust fund and retain the value <br />
         		<a id="pl.3.10"></a><var>3.10</var>from the long-term appreciation of the school trust lands; and<br />
         		<a id="pl.3.11"></a><var>3.11</var>&nbsp;&nbsp;&nbsp;&nbsp;(4) manage the school trust lands to maximize the long-term economic return for the <br />
         		<a id="pl.3.12"></a><var>3.12</var>permanent school trust fund while maintaining sound natural resource conservation and <br />
         		<a id="pl.3.13"></a><var>3.13</var>management principles.<br />
         		<a id="pl.3.14"></a><var>3.14</var>(b) When the commissioner finds an irresolvable conflict between maximizing the <br />
         		<a id="pl.3.15"></a><var>3.15</var>long-term economic return and protecting natural resources and recreational values on <br />
         		<a id="pl.3.16"></a><var>3.16</var>school trust lands, the commissioner shall give precedence to the long-term economic <br />
         		<a id="pl.3.17"></a><var>3.17</var>return in managing school trust lands. By July 1, 2016, the permanent school fund shall be <br />
         		<a id="pl.3.18"></a><var>3.18</var>compensated for all school trust lands included under a designation or policy provision <br />
         		<a id="pl.3.19"></a><var>3.19</var>that prohibits long-term economic return. Any uncompensated designation or policy <br />
         		<a id="pl.3.20"></a><var>3.20</var>provision restrictions on the long-term economic return on school trust lands is removed <br />
         		<a id="pl.3.21"></a><var>3.21</var>on July 1, 2016, and the lands shall be managed for long-term economic return to the <br />
         		<a id="pl.3.22"></a><var>3.22</var>permanent school fund.<br />
         		<a id="pl.3.23"></a><var>3.23</var>(c) The first 2013 report required under paragraph (a) shall provide an inventory <br />
         		<a id="pl.3.24"></a><var>3.24</var>and identification of all school trust lands that are included under a designation or policy <br />
         		<a id="pl.3.25"></a><var>3.25</var>provision that prohibits long-term economic return. The report shall include a plan to <br />
         		<a id="pl.3.26"></a><var>3.26</var>compensate the permanent school fund through the purchase or exchange of the lands <br />
         		<a id="pl.3.27"></a><var>3.27</var>or a plan to manage the school trust land to generate long-term economic return to the <br />
         		<a id="pl.3.28"></a><var>3.28</var>permanent school fund. Subsequent reports under paragraph (a) shall include a status <br />
         		<a id="pl.3.29"></a><var>3.29</var>report of the commissioner's progress in maximizing the long-term economic return on <br />
         		<a id="pl.3.30"></a><var>3.30</var>lands identified in the first 2013 report.<br />
         		<a id="pl.3.31"></a><var>3.31</var>(d) When future designations or policies prohibit the long-term economic return on <br />
         		<a id="pl.3.32"></a><var>3.32</var>school trust land, the conflict shall be resolved by compensating the permanent school <br />
         		<a id="pl.3.33"></a><var>3.33</var>fund through an exchange or purchase of the lands before designation or application <br />
         		<a id="pl.3.34"></a><var>3.34</var>of the policy.<br />
         		<br />
         		<a id="bill.0.5.0"></a><a id="pl.3.35"></a><var>3.35</var>&nbsp;&nbsp;&nbsp;&nbsp;Sec. 5. Minnesota Statutes 2010, section 94.342, subdivision 5, is amended to read:<br />
         		<a id="pl.4.1"></a><var>4.1</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 5. <b>Additional restrictions on school trust land.</b> School trust land may <br />
         		<a id="pl.4.2"></a><var>4.2</var>be exchanged with other Class A land only if the Permanent School Fund Advisory <br />
         		<a id="pl.4.3"></a><var>4.3</var>Committee Legislative-Citizen Permanent School Fund Commission is appointed as <br />
         		<a id="pl.4.4"></a><var>4.4</var>temporary trustee of the school trust land for purposes of the exchange. The committee <br />
         		<a id="pl.4.5"></a><var>4.5</var>commission shall provide independent legal counsel to review the exchanges.<br />
         		<br />
         		<a id="bill.0.6.0"></a><a id="pl.4.6"></a><var>4.6</var>&nbsp;&nbsp;&nbsp;&nbsp;Sec. 6. Minnesota Statutes 2010, section 127A.30, is amended to read:<br />
         		<a id="pl.4.7"></a><var>4.7</var><b>127A.30 </b><b>LEGISLATIVE-CITIZEN </b><b>PERMANENT SCHOOL FUND </b><br />
         		<a id="pl.4.8"></a><var>4.8</var><b>ADVISORY COMMITTEE</b><b> COMMISSION</b><b>.</b><br />
         		<a id="pl.4.9"></a><var>4.9</var>&nbsp;&nbsp;&nbsp;&nbsp;Subdivision 1. <b>Commission established; </b><b>membership. </b> A state (a) The <br />
         		<a id="pl.4.10"></a><var>4.10</var>Legislative-Citizen Permanent School Fund Advisory Committee Commission of 16 <br />
         		<a id="pl.4.11"></a><var>4.11</var>members is established to advise the Department of Natural Resources on the management <br />
         		<a id="pl.4.12"></a><var>4.12</var>of permanent school fund land, which is held in trust for the school districts of the state <br />
         		<a id="pl.4.13"></a><var>4.13</var>in the legislative branch. The advisory committee must consist commission consists <br />
         		<a id="pl.4.14"></a><var>4.14</var>of the following persons or their designees: the chairs of the education committees of <br />
         		<a id="pl.4.15"></a><var>4.15</var>the legislature, the chairs of the legislative committees with jurisdiction over the K-12 <br />
         		<a id="pl.4.16"></a><var>4.16</var>education budget, the chairs of the legislative committees with jurisdiction over the <br />
         		<a id="pl.4.17"></a><var>4.17</var>environment and natural resources policy and budget, the chair of the senate Committee <br />
         		<a id="pl.4.18"></a><var>4.18</var>on Finance and the chair of the house of representatives Committee on Ways and Means, <br />
         		<a id="pl.4.19"></a><var>4.19</var>the commissioner of education, one superintendent from a nonmetropolitan district, one <br />
         		<a id="pl.4.20"></a><var>4.20</var>superintendent from a metropolitan area district, one person with an expertise in forestry, <br />
         		<a id="pl.4.21"></a><var>4.21</var>one person with an expertise in minerals and mining, one person with an expertise in <br />
         		<a id="pl.4.22"></a><var>4.22</var>real estate development, one person with an expertise in renewable energy, one person <br />
         		<a id="pl.4.23"></a><var>4.23</var>with an expertise in finance and land management, and one person with an expertise in <br />
         		<a id="pl.4.24"></a><var>4.24</var>natural resource conservation. The school district superintendents shall be appointed <br />
         		<a id="pl.4.25"></a><var>4.25</var>by the commissioner of education. The committee members with areas of expertise in <br />
         		<a id="pl.4.26"></a><var>4.26</var>forestry, minerals and mining, real estate development, renewable energy, finance and land <br />
         		<a id="pl.4.27"></a><var>4.27</var>management, and natural resource conservation shall be appointed by the commissioner of <br />
         		<a id="pl.4.28"></a><var>4.28</var>natural resources. Members of the legislature shall be given the opportunity to recommend <br />
         		<a id="pl.4.29"></a><var>4.29</var>candidates for vacancies on the committee to the commissioners of education and natural <br />
         		<a id="pl.4.30"></a><var>4.30</var>resources. The advisory committee must also include a nonvoting member appointed <br />
         		<a id="pl.4.31"></a><var>4.31</var>by the commissioner of natural resources. The commissioner of natural resources shall <br />
         		<a id="pl.4.32"></a><var>4.32</var>provide administrative support to the committee. The members of the committee shall <br />
         		<a id="pl.4.33"></a><var>4.33</var>serve without compensation. The members of the Permanent School Fund Advisory <br />
         		<a id="pl.4.34"></a><var>4.34</var>Committee shall elect their chair and are bound by the provisions of sections 
         <statute_ref>43A.38</statute_ref> and <br />
         		<a id="pl.4.35"></a><var>4.35</var><statute_ref>116P.09, subdivision 6</statute_ref>.<br />
         		<a id="pl.5.1"></a><var>5.1</var>(1) two public members appointed by the senate Subcommittee on Committees of <br />
         		<a id="pl.5.2"></a><var>5.2</var>the Committee on Rules and Administration;<br />
         		<a id="pl.5.3"></a><var>5.3</var>(2) two public members appointed by the speaker of the house;<br />
         		<a id="pl.5.4"></a><var>5.4</var>(3) four public members appointed by the governor;<br />
         		<a id="pl.5.5"></a><var>5.5</var>(4) four members of the senate, including two members from the minority party, <br />
         		<a id="pl.5.6"></a><var>5.6</var>appointed by the senate Subcommittee on Committees of the Committee on Rules and <br />
         		<a id="pl.5.7"></a><var>5.7</var>Administration; and<br />
         		<a id="pl.5.8"></a><var>5.8</var>(5) four members of the house of representatives, including two members from the <br />
         		<a id="pl.5.9"></a><var>5.9</var>minority party, appointed by the speaker of the house.<br />
         		<a id="pl.5.10"></a><var>5.10</var>(b) Members appointed under paragraph (a) must not be registered lobbyists. The <br />
         		<a id="pl.5.11"></a><var>5.11</var>governor's appointments to the commission are subject to the advice and consent of the <br />
         		<a id="pl.5.12"></a><var>5.12</var>senate.<br />
         		<a id="pl.5.13"></a><var>5.13</var>(c) Public members appointed under paragraph (a) shall have practical experience or <br />
         		<a id="pl.5.14"></a><var>5.14</var>expertise or demonstrated knowledge in renewable or nonrenewable resource management <br />
         		<a id="pl.5.15"></a><var>5.15</var>or development, real estate, business, finance, trust administration, asset management, or <br />
         		<a id="pl.5.16"></a><var>5.16</var>the practice of law in the areas of natural resources or real estate.<br />
         		<a id="pl.5.17"></a><var>5.17</var>(d) Public members serve four-year terms. Appointed legislative members serve <br />
         		<a id="pl.5.18"></a><var>5.18</var>at the pleasure of the appointing authority. Public and legislative members continue to <br />
         		<a id="pl.5.19"></a><var>5.19</var>serve until their successors are appointed. Public members shall be initially appointed <br />
         		<a id="pl.5.20"></a><var>5.20</var>according to the following schedule of terms:<br />
         		<a id="pl.5.21"></a><var>5.21</var>(1) two public members appointed by the governor for a term ending the first <br />
         		<a id="pl.5.22"></a><var>5.22</var>Monday in January 2015;<br />
         		<a id="pl.5.23"></a><var>5.23</var>(2) one public member appointed by the senate Subcommittee on Committees of the <br />
         		<a id="pl.5.24"></a><var>5.24</var>Committee on Rules and Administration for a term ending the first Monday in January <br />
         		<a id="pl.5.25"></a><var>5.25</var>2015;<br />
         		<a id="pl.5.26"></a><var>5.26</var>(3) one public member appointed by the speaker of the house for a term ending <br />
         		<a id="pl.5.27"></a><var>5.27</var>the first Monday in January 2015;<br />
         		<a id="pl.5.28"></a><var>5.28</var>(4) two public members appointed by the governor for a term ending the first <br />
         		<a id="pl.5.29"></a><var>5.29</var>Monday in January 2017;<br />
         		<a id="pl.5.30"></a><var>5.30</var>(5) one public member appointed by the senate Subcommittee on Committees of the <br />
         		<a id="pl.5.31"></a><var>5.31</var>Committee on Rules and Administration for a term ending the first Monday in January <br />
         		<a id="pl.5.32"></a><var>5.32</var>2017; and<br />
         		<a id="pl.5.33"></a><var>5.33</var>(6) one public member appointed by the speaker of the house for a term ending <br />
         		<a id="pl.5.34"></a><var>5.34</var>the first Monday in January 2017.<br />
         		<a id="pl.6.1"></a><var>6.1</var>(e) Terms, compensation, and removal of public members are as provided in section <br />
         		<a id="pl.6.2"></a><var>6.2</var>15.0575. A vacancy on the commission may be filled by the appointing authority for the <br />
         		<a id="pl.6.3"></a><var>6.3</var>remainder of the unexpired term.<br />
         		<a id="pl.6.4"></a><var>6.4</var>(f) The first meeting of the commission shall be convened by the chair of the <br />
         		<a id="pl.6.5"></a><var>6.5</var>Legislative Coordinating Commission no later than December 4, 2013. Members shall <br />
         		<a id="pl.6.6"></a><var>6.6</var>elect a chair, vice-chair, secretary, and other officers as determined by the commission. The <br />
         		<a id="pl.6.7"></a><var>6.7</var>chair may convene meetings as necessary to conduct the duties prescribed by this section.<br />
         		<a id="pl.6.8"></a><var>6.8</var>(g) The school trust lands advisor shall provide staffing for the commission.<br />
         		<a id="pl.6.9"></a><var>6.9</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 2. <b>Duties. </b> The advisory committee commission shall review the policies of <br />
         		<a id="pl.6.10"></a><var>6.10</var>the Department of Natural Resources and current statutes on management of school trust <br />
         		<a id="pl.6.11"></a><var>6.11</var>fund lands at least annually and shall recommend necessary changes in statutes, policy, <br />
         		<a id="pl.6.12"></a><var>6.12</var>and implementation in order to ensure provident utilization of the permanent school fund <br />
         		<a id="pl.6.13"></a><var>6.13</var>lands. By January 15 of each year, the advisory committee commission shall submit <br />
         		<a id="pl.6.14"></a><var>6.14</var>a report to the legislature with recommendations for the management of school trust <br />
         		<a id="pl.6.15"></a><var>6.15</var>lands to secure long-term economic return for the permanent school fund, consistent with <br />
         		<a id="pl.6.16"></a><var>6.16</var>sections 
         <statute_ref>92.121</statute_ref> and 
         <statute_ref>127A.31</statute_ref>. The committee's commission's annual report may include <br />
         		<a id="pl.6.17"></a><var>6.17</var>recommendations to:<br />
         		<a id="pl.6.18"></a><var>6.18</var>&nbsp;&nbsp;&nbsp;&nbsp;(1) manage the school trust lands efficiently;<br />
         		<a id="pl.6.19"></a><var>6.19</var>&nbsp;&nbsp;&nbsp;&nbsp;(2) reduce the management expenditures of school trust lands and maximize the <br />
         		<a id="pl.6.20"></a><var>6.20</var>revenues deposited in the permanent school trust fund;<br />
         		<a id="pl.6.21"></a><var>6.21</var>&nbsp;&nbsp;&nbsp;&nbsp;(3) manage the sale, exchange, and commercial leasing of school trust lands to <br />
         		<a id="pl.6.22"></a><var>6.22</var>maximize the revenues deposited in the permanent school trust fund and retain the value <br />
         		<a id="pl.6.23"></a><var>6.23</var>from the long-term appreciation of the school trust lands; and<br />
         		<a id="pl.6.24"></a><var>6.24</var>&nbsp;&nbsp;&nbsp;&nbsp;(4) manage the school trust lands to maximize the long-term economic return for <br />
         		<a id="pl.6.25"></a><var>6.25</var>the permanent school trust fund while maintaining sound natural resource conservation <br />
         		<a id="pl.6.26"></a><var>6.26</var>and management principles; and<br />
         		<a id="pl.6.27"></a><var>6.27</var>(5) manage the asset allocation of the permanent school fund.<br />
         		<a id="pl.6.28"></a><var>6.28</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 3. <b>Duration.</b> Notwithstanding section 
         <statute_ref>15.059, subdivision 5</statute_ref>, the advisory <br />
         		<a id="pl.6.29"></a><var>6.29</var>committee is permanent and does not expire.<br />
         		<a id="pl.6.30"></a><var>6.30</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 4. <b>Conflict of interest.</b> (a) A commission member may not be an advocate <br />
         		<a id="pl.6.31"></a><var>6.31</var>for or against a commission action or vote on any action that may be a conflict of interest. <br />
         		<a id="pl.6.32"></a><var>6.32</var>A conflict of interest must be disclosed as soon as it is discovered. The commission shall <br />
         		<a id="pl.6.33"></a><var>6.33</var>follow the policies and requirements related to conflicts of interest developed by the Office <br />
         		<a id="pl.6.34"></a><var>6.34</var>of Grants Management under section 16B.98.<br />
         		<a id="pl.6.35"></a><var>6.35</var>(b) For the purposes of this section, a "conflict of interest" exists when a person <br />
         		<a id="pl.6.36"></a><var>6.36</var>has an organizational conflict of interest or direct financial interests and those interests <br />
         		<a id="pl.7.1"></a><var>7.1</var>present the appearance that it will be difficult for the person to impartially fulfill the <br />
         		<a id="pl.7.2"></a><var>7.2</var>person's duty. An "organizational conflict of interest" exists when a person has an <br />
         		<a id="pl.7.3"></a><var>7.3</var>affiliation with an organization that is subject to commission activities, which presents <br />
         		<a id="pl.7.4"></a><var>7.4</var>the appearance of a conflict between organizational interests and commission member <br />
         		<a id="pl.7.5"></a><var>7.5</var>duties. An "organizational conflict of interest" does not exist if the person's only affiliation <br />
         		<a id="pl.7.6"></a><var>7.6</var>with an organization is being a member of the organization.<br />
         		<a id="pl.7.7"></a><var>7.7</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 5. <b>Open meetings.</b> (a) Meetings of the commission and other groups the <br />
         		<a id="pl.7.8"></a><var>7.8</var>commission may establish are subject to section 3.055. Except where prohibited by <br />
         		<a id="pl.7.9"></a><var>7.9</var>law, the commission shall establish additional processes to broaden public involvement <br />
         		<a id="pl.7.10"></a><var>7.10</var>in all aspects of its deliberations, including recording meetings, video conferencing, <br />
         		<a id="pl.7.11"></a><var>7.11</var>and publishing minutes. For the purposes of this subdivision, a meeting occurs when a <br />
         		<a id="pl.7.12"></a><var>7.12</var>quorum is present and the members take action on any matter relating to the duties of the <br />
         		<a id="pl.7.13"></a><var>7.13</var>commission. The quorum requirement for the commission shall be seven members.<br />
         		<a id="pl.7.14"></a><var>7.14</var>(b) For legislative members of the commission, enforcement of this subdivision is <br />
         		<a id="pl.7.15"></a><var>7.15</var>governed by section 3.055, subdivision 2. For nonlegislative members of the commission, <br />
         		<a id="pl.7.16"></a><var>7.16</var>enforcement of this subdivision is governed by section 13D.06, subdivisions 1 and 2.<br />
         		<br />
         		<a id="bill.0.7.0"></a><a id="pl.7.17"></a><var>7.17</var>&nbsp;&nbsp;&nbsp;&nbsp;Sec. 7. <b>[127A.3014] POLICIES.</b><br />
         		<a id="pl.7.18"></a><var>7.18</var>&nbsp;&nbsp;&nbsp;&nbsp;Subdivision 1. <b>Management.</b> The Legislative-Citizen Permanent School Fund <br />
         		<a id="pl.7.19"></a><var>7.19</var>Commission shall recommend policies for the school trust lands advisor and the <br />
         		<a id="pl.7.20"></a><var>7.20</var>commissioner of natural resources. The policies shall:<br />
         		<a id="pl.7.21"></a><var>7.21</var>(1) be consistent with the Minnesota Constitution and state law;<br />
         		<a id="pl.7.22"></a><var>7.22</var>(2) reflect undivided loyalty to the beneficiaries consistent with fiduciary duties;<br />
         		<a id="pl.7.23"></a><var>7.23</var>(3) require the return of not less than fair market value for the use, sale, or exchange <br />
         		<a id="pl.7.24"></a><var>7.24</var>of school trust assets;<br />
         		<a id="pl.7.25"></a><var>7.25</var>(4) seek to optimize trust land revenues and increase the value of trust land holdings <br />
         		<a id="pl.7.26"></a><var>7.26</var>consistent with the balancing of short-term and long-term interests, so that long-term <br />
         		<a id="pl.7.27"></a><var>7.27</var>benefits are not lost in an effort to maximize short-term gains; and<br />
         		<a id="pl.7.28"></a><var>7.28</var>(5) maintain the integrity of the trust and prevent the misapplication of its lands <br />
         		<a id="pl.7.29"></a><var>7.29</var>and its revenues.<br />
         		<a id="pl.7.30"></a><var>7.30</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 2. <b>Duties.</b> The commissioner of natural resources and the school trust lands <br />
         		<a id="pl.7.31"></a><var>7.31</var>advisor shall recommend to the governor and the legislature any necessary or desirable <br />
         		<a id="pl.7.32"></a><var>7.32</var>changes in statutes relating to the trust or their trust responsibilities.<br />
         		<br />
         		<a id="bill.0.8.0"></a><a id="pl.7.33"></a><var>7.33</var>&nbsp;&nbsp;&nbsp;&nbsp;Sec. 8. <b>[127A.3015] SCHOOL TRUST LANDS ADVISOR.</b><br />
         		<a id="pl.8.1"></a><var>8.1</var>&nbsp;&nbsp;&nbsp;&nbsp;Subdivision 1. <b>Appointment.</b> The school trust lands advisor shall be appointed by <br />
         		<a id="pl.8.2"></a><var>8.2</var>the governor. The commissioner of management and budget shall provide office space <br />
         		<a id="pl.8.3"></a><var>8.3</var>for the advisor. The commissioner shall provide human resources, payroll, accounting, <br />
         		<a id="pl.8.4"></a><var>8.4</var>procurement, and other similar administrative services to the advisor. The advisor's <br />
         		<a id="pl.8.5"></a><var>8.5</var>appointment is subject to the advice and consent of the senate.<br />
         		<a id="pl.8.6"></a><var>8.6</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 2. <b>Qualifications.</b> The governor shall select the advisor on the basis of <br />
         		<a id="pl.8.7"></a><var>8.7</var>outstanding professional qualifications and knowledge of finance, business practices, <br />
         		<a id="pl.8.8"></a><var>8.8</var>minerals, forest and real estate management, and the fiduciary responsibilities of the <br />
         		<a id="pl.8.9"></a><var>8.9</var>trustee to the beneficiaries of the trust. The advisor serves in the unclassified service.<br />
         		<a id="pl.8.10"></a><var>8.10</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 3. <b>Compensation.</b> Compensation of the advisor shall be established under <br />
         		<a id="pl.8.11"></a><var>8.11</var>chapter 15A.<br />
         		<a id="pl.8.12"></a><var>8.12</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 4. <b>Duties.</b> The school trust lands advisor shall advise the governor, <br />
         		<a id="pl.8.13"></a><var>8.13</var>commissioners of natural resources and management and budget, and the <br />
         		<a id="pl.8.14"></a><var>8.14</var>Legislative-Citizen Permanent School Fund Commission on the management of school <br />
         		<a id="pl.8.15"></a><var>8.15</var>trust lands, including:<br />
         		<a id="pl.8.16"></a><var>8.16</var>(1) Department of Natural Resources management plans;<br />
         		<a id="pl.8.17"></a><var>8.17</var>(2) leases;<br />
         		<a id="pl.8.18"></a><var>8.18</var>(3) royalty agreements;<br />
         		<a id="pl.8.19"></a><var>8.19</var>(4) land sales and exchanges;<br />
         		<a id="pl.8.20"></a><var>8.20</var>(5) cost certifications; and<br />
         		<a id="pl.8.21"></a><var>8.21</var>(6) revenue generation opportunities.<br />
         		<a id="pl.8.22"></a><var>8.22</var>&nbsp;&nbsp;&nbsp;&nbsp;Subd. 5. <b>Cost certification.</b> The costs of the school trust lands advisor and the <br />
         		<a id="pl.8.23"></a><var>8.23</var>Legislative-Citizen Permanent School Fund Commission shall be certified under section <br />
         		<a id="pl.8.24"></a><var>8.24</var>16A.125.<br />
         		
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