SF 3521

as introduced - 89th Legislature (2015 - 2016) Posted on 04/12/2016 11:31am

A bill for an act
relating to environment; authorizing drainage authorities to acquire property;
creating a revolving loan fund to acquire property for riparian improvements;
appropriating money; authorizing the sale and issuance of state bonds; amending
Minnesota Statutes 2014, section 103E.011, by adding a subdivision; proposing
coding for new law in Minnesota Statutes, chapter 103E.

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

Section 1.

Minnesota Statutes 2014, section 103E.011, is amended by adding a
subdivision to read:

new text begin Subd. 6. new text end

new text begin Acquiring property. new text end

new text begin A drainage authority may acquire property and
easements to property under section 103E.150.
new text end

Sec. 2.

new text begin [103E.150] RIPARIAN IMPROVEMENT REVOLVING LOAN
PROGRAM.
new text end

new text begin Subdivision 1. new text end

new text begin Establishment of fund; loan program; property or easement
acquisition by drainage authority. new text end

new text begin The Board of Water and Soil Resources shall
establish a riparian improvement revolving fund and may make interest-free loans from
the fund to drainage authorities for eligible projects. Drainage authorities may use the
loaned money to contract with and make payments to landowners to acquire property
in fee simple for market value as determined by appraisal of a licensed appraiser or to
acquire easements of at least 16.5 feet in width for a term of at least 20 years for an
amount equal to the rate for 20-year easements established by the Board of Water and
Soil Resources under section 103F.515.
new text end

new text begin Subd. 2. new text end

new text begin Eligible projects. new text end

new text begin An "eligible project" as used in this section means
a project designated by a drainage authority to implement permanent buffer strips of
perennial vegetation as provided in section 103E.021.
new text end

new text begin Subd. 3. new text end

new text begin Loan repayment. new text end

new text begin A drainage authority must repay a loan from the Board
of Water and Soil Resources under this section within ten years. A drainage authority
must apply amounts collected from assessments of benefits, as redetermined under section
103E.351, on the property improved by a loan under this section toward repayment of
the loan. The Board of Water and Soil Resources must deposit loan payments made by a
drainage authority into the revolving fund established in subdivision 1.
new text end

Sec. 3. new text begin APPROPRIATION; BOND SALE AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $....... is appropriated from the bond proceeds
fund to the Board of Water and Soil Resources for deposit into the riparian improvement
revolving fund for eligible projects under Minnesota Statutes, section 103E.150, that
are capital in nature.
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 $....... 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