HF 3474

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/29/2024 03:44pm

A bill for an act
relating to capital investment; appropriating money for the Reinvest in Minnesota
(RIM) reserve program; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin STUDY; APPROPRIATION.
new text end

new text begin $1,000,000 in fiscal year 2025 is appropriated from the general fund to the Board of
Water and Soil Resources to complete a systematic assessment, in cooperation with soil
and water conservation districts, of wetland restoration structures needing repairs or
replacement that are located on existing Reinvest in Minnesota (RIM) conservation
easements.
new text end

Sec. 2. new text begin IMPROVEMENTS; APPROPRIATION.
new text end

new text begin $3,000,000 is appropriated from the bond proceeds fund to the Board of Water and Soil
Resources, or to the Board of Water and Soil Resources for one or more grants to soil and
water conservation districts, to repair or replace structures associated with wetland restoration
that have reached the end of their useful life, on existing Reinvest in Minnesota (RIM)
conservation easements.
new text end

Sec. 3. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated in this act from the bond proceeds fund, the
commissioner of management and budget shall sell and issue bonds of the state in an amount
up to $3,000,000 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