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HF 2681

as introduced - 92nd Legislature (2021 - 2022) Posted on 01/31/2022 10:33am

KEY: stricken = removed, old language.
underscored = added, new language.

Bill Text Versions

Engrossments
Introduction Posted on 01/24/2022

Current Version - as introduced

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A bill for an act
relating to capital investment; appropriating money for Minneapolis to Duluth
intercity passenger rail; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin NORTHERN LIGHTS EXPRESS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $85,000,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for capital improvements and betterments,
including preliminary engineering, design, engineering, environmental analysis and
mitigation, acquisition of land and right-of-way, and construction of the Minneapolis-Duluth
Northern Lights Express intercity passenger rail project. This appropriation may be used
first to maximize nonstate funding for the purposes of this subdivision.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in this section from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $85,000,000 in the manner, upon the terms, and with the effect
prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota
Constitution, article XI, sections 4 to 7.
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