1.1 	A bill for an act
1.2 	relating to higher education; modifying the permanent university fund for mineral 
1.3 	research;amending Minnesota Statutes 2020, section 137.022, subdivision 4.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. Minnesota Statutes 2020, section 137.022, subdivision 4, is amended to read:
1.6 		Subd. 4.Mineral research; scholarships. (a) All income credited after July 1, 1992, 
1.7 	to the permanent university fund from royalties for mining under state mineral leases from 
1.8 	and after July 1, 1991, must be allocated as provided in this subdivision.
1.9 	(b)(1) Beginning January 1, 2013, 50 percent of the income must be allocated according 
1.10 	to this paragraph. One-half of the income under this paragraph, up to $50,000,000, must be 
1.11 	credited to the mineral research account of the fund to be allocated for the Natural Resources 
1.12 	Research Institute-Duluth and Coleraine facilities, for mineral and mineral-related research 
1.13 	including mineral-related environmental research. The other one-half of the income under 
1.14 	this paragraph, up to $25,000,000, is credited to an endowment for the costs of operating a
1.15 	mining, metallurgical mineral, mineral-related, or related engineering science, technology, 
1.16 	engineering and mathematics (STEM) degree program programs offered through the Swenson 
1.17 	College of Science and Engineering at the University of Minnesota at Mesabi Range 
1.18 	Community and Technical College Duluth to support workforce development and 
1.19 	collaborations benefiting regional academics, industry, and natural resources on the Iron 
1.20 	Range in northeast Minnesota and for scholarships for Minnesota students to attend the 
1.21 	mining, metallurgical, or related engineering program mineral, mineral-related, or STEM 
1.22 	programs. The maximum scholarship awarded to attend the mining, metallurgical, or related 
1.23 	engineering degree program programs funded under this paragraph cannot exceed $6,500
2.1 	75 percent of current in-state tuition rates per academic year and may be awarded a maximum 
2.2 	of four academic years.
2.3 	(2) The remainder of the income under paragraph (a) plus the amount of any income 
2.4 	under clause (1) after $50,000,000 has been credited to the mineral research account for the 
2.5 	Natural Resources Research Institute and the amount of any income over the $25,000,000 
2.6 	for the engineering program programming in clause (1) must be credited to the endowed 
2.7 	scholarship account of the fund for distribution annually for scholastic achievement as 
2.8 	provided by the Board of Regents to undergraduates enrolled at the University of Minnesota 
2.9 	who are resident students as defined in section 136A.101, subdivision 8.
2.10 	(c) The annual distribution from the endowed scholarship account must be allocated to 
2.11 	the various campuses of the University of Minnesota in proportion to the number of 
2.12 	undergraduate resident students enrolled on each campus.
2.13 	(d) The Board of Regents must report to the education committees of the legislature 
2.14 	biennially at the time of the submission of its budget request on the disbursement of money 
2.15 	from the endowed scholarship account and to the environment and natural resources 
2.16 	committees on the use of the mineral research account.
2.17 	(e) Capital gains and losses and portfolio income of the permanent university fund must 
2.18 	be credited to its three accounts in proportion to the market value of each account.
2.19 	(f) The endowment support from the income and capital gains of the endowed mineral 
2.20 	research and endowed scholarship accounts of the fund must not total more than six percent 
2.21 	per year of the 36-month trailing average market value of the account from which the support 
2.22 	is derived.