HF 2009

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/08/2021 02:24pm

A bill for an act
relating to capital investment; appropriating money for capital improvements at
the University of Minnesota; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin UNIVERSITY OF MINNESOTA.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $264,000,000 is appropriated from the bond proceeds
fund to the Board of Regents of the University of Minnesota for the purposes of this section.
new text end

new text begin Subd. 2. new text end

new text begin Higher education asset preservation and replacement
(HEAPR). new text end

new text begin $200,000,000 of this appropriation is to be spent in accordance with Minnesota
Statutes, section 135A.046.
new text end

new text begin Subd. 3. new text end

new text begin Twin Cities - Fraser Hall chemistry undergraduate teaching
laboratory. new text end

new text begin $62,400,000 of this appropriation is to construct, furnish, and equip a renovation
of and an addition to Fraser Hall for an undergraduate chemistry teaching laboratory facility
on the Twin Cities campus. This project includes the demolition of obsolete portions of
Fraser Hall.
new text end

new text begin Subd. 4. new text end

new text begin Duluth - science building. new text end

new text begin $1,600,000 of this appropriation is to predesign
and design a renovation of the former chemistry building on the Duluth campus to include
active learning classrooms and space for the Computer Science and Earth and Environmental
Science programs.
new text end

new text begin Subd. 5. new text end

new text begin University share. new text end

new text begin Except for the appropriation for HEAPR under subdivision
2, the appropriations in this section are intended to cover approximately two-thirds of the
cost of each project. The remaining costs must be paid from university sources.
new text end

new text begin Subd. 6. new text end

new text begin Unspent appropriations. new text end

new text begin Upon substantial completion of a project authorized
in this section and after written notice to the commissioner of management and budget, the
board must use any money remaining in the appropriation for that project for HEAPR under
Minnesota Statutes, section 135A.046. The Board of Regents must report by February 1 of
each even-numbered year to the chairs of the house of representatives and senate committees
with jurisdiction over capital investments and higher education finance, and to the chairs
of the house of representatives Ways and Means Committee and the senate Finance
Committee, on how the remaining money has been allocated or spent.
new text end

new text begin Subd. 7. 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 $264,000,000 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