SF 3592

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/15/2024 02:48pm

A bill for an act
relating to capital investment; appropriating money for the library construction
grant 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 LIBRARY CONSTRUCTION GRANTS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $20,000,000 is appropriated from the bond proceeds
fund to the commissioner of education for library construction grants under Minnesota
Statutes, section 134.45. Notwithstanding Minnesota Statutes, section 134.45, subdivision
5b, a grant of money appropriated in this section may be for up to $2,000,000 of the costs
for renovating or expanding an existing library building or to construct a new library building.
Renovation may include remediation of conditions hazardous to health or safety.
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