SF 1762

as introduced - 87th Legislature (2011 - 2012) Posted on 03/02/2012 09:14am

A bill for an act
relating to capital improvements; appropriating money to the Board of Water and
Soil Resources for wetland restoration; authorizing the sale and issuance of
state bonds.

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

Section 1. new text begin RESTORATION OF WETLANDS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $13,100,000 is appropriated from the bond proceeds
fund to the Board of Water and Soil Resources to acquire land for wetland restoration or
preservation to replace wetlands drained or filled as a result of the repair or reconstruction,
replacement, or rehabilitation of existing public roads as required by Minnesota Statutes,
section 103G.222, subdivision 1, paragraphs (l) and (m). The provisions of Minnesota
Statutes, section 103F.515, apply to this appropriation, except that the board may establish
alternative payment rates for easements and practices to establish restored native prairies,
as defined in Minnesota Statutes, section 84.02, subdivision 5, and to protect uplands.
The purchase price paid for acquisition of land, fee, or perpetual easement must be the
fair market value as determined by the board. The board may enter into agreements
with the federal government, other state agencies, political subdivisions, and nonprofit
organizations or fee owners to acquire land and restore and create wetlands and to acquire
existing wetland banking credits. Acquisition of or the conveyance of land may be in the
name of the political subdivision.
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 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 $13,100,000 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