HF 4708

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/07/2024 02:43pm

A bill for an act
relating to capital investment; appropriating money for the local road wetland
replacement 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 LOCAL ROAD WETLAND REPLACEMENT PROGRAM.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $15,000,000 from the bond proceeds fund and
$16,000,000 in fiscal year 2025 from the general fund are appropriated to the Board of
Water and Soil Resources to acquire land or permanent easements and to restore, create,
enhance, and preserve wetlands to replace those wetlands drained or filled as a result of the
repair, reconstruction, replacement, or rehabilitation of existing public roads as required by
Minnesota Statutes, section 103G.222, subdivision 1, paragraphs (l) and (m). The board
may vary the priority order of Minnesota Statutes, section 103G.222, subdivision 3, paragraph
(a), to implement an in-lieu fee agreement approved by the United States Army Corps of
Engineers under section 404 of the federal Clean Water Act. The purchase price paid for
acquisition of land or perpetual easement must be a fair market value as determined by the
board. The board may enter into agreements with the federal government, other state agencies,
political subdivisions, nonprofit organizations, fee title owners, or other qualified private
entities to acquire wetland replacement credits in accordance with Minnesota Rules, chapter
8420.
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 $15,000,000 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