HF 3910

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/19/2024 02:12pm

A bill for an act
relating to capital investment; appropriating money for an airport infrastructure
renewal (AIR) grant 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 AIRPORT INFRASTRUCTURE RENEWAL (AIR) GRANT PROGRAM.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin (a) $5,000,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for the airport
infrastructure renewal (AIR) grant program under Minnesota Statutes, section 116J.439.
new text end

new text begin (b) In awarding grants with this appropriation, the commissioner must prioritize eligible
applicants that did not receive a grant pursuant to the appropriation in Laws 2019, First
Special Session chapter 7, article 1, section 2, subdivision 2, paragraph (q).
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 $5,000,000 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