HF 4322

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/17/2022 02:20pm

A bill for an act
relating to capital investment; appropriating money for statewide flood hazard
mitigation; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin FLOOD HAZARD MITIGATION GRANTS; APPROPRIATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin (a) $90,000,000 is appropriated from the bond proceeds
fund to the commissioner of natural resources for the state share of flood hazard mitigation
grants for publicly owned capital improvements to prevent or alleviate flood damage under
Minnesota Statutes, section 103F.161.
new text end

new text begin (b) To the extent practical, levee projects shall meet the state standard of three feet above
the 100-year flood elevation.
new text end

new text begin (c) Project priorities shall be determined by the commissioner as appropriate, based on
need and consideration of available leveraging of federal, state, and local funds.
new text end

new text begin (d) This appropriation may be used to alleviate high water on landlocked basins.
new text end

new text begin (e) To the extent practicable and consistent with the project, recipients of appropriations
for flood control projects in this subdivision shall create wetlands that are eligible for wetland
replacement credit to replace wetlands drained or filled as the result of repair, reconstruction,
replacement, or rehabilitation of an existing public road under Minnesota Statutes, section
103G.222, subdivision 1, paragraphs (l) and (m).
new text end

new text begin (f) To the extent that the cost of a project exceeds two percent of the median household
income in a municipality or township multiplied by the number of households in the
municipality or township, this appropriation is also for the local share of the project.
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 $20,000,000 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