1.1 A bill for an act
1.2 relating to capital investment; appropriating money for Higher Education Asset
1.3 Preservation and Replacement at the University of Minnesota; authorizing the sale
1.4 and issuance of state bonds.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. UNIVERSITY OF MINNESOTA; HIGHER EDUCATION ASSET
1.7PRESERVATION AND REPLACEMENT .
1.8 Subdivision 1.Appropriation.$200,000,000 is appropriated from the bond proceeds
1.9fund to the Board of Regents of the University of Minnesota for Higher Education Asset
1.10Preservation and Replacement (HEAPR), to be spent in accordance with Minnesota Statutes,
1.11section 135A.046.
1.12 Subd. 2.Bond sale.To provide the money appropriated in this section from the bond
1.13proceeds fund, the commissioner of management and budget shall sell and issue bonds of
1.14the state in an amount up to $200,000,000 in the manner, upon the terms, and with the effect
1.15prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota
1.16Constitution, article XI, sections 4 to 7.
1.17 EFFECTIVE DATE.This section is effective the day following final enactment.
1Section 1.
REVISOR JSK/ES 25-0242301/16/25
State of Minnesota
This Document can be made available
in alternative formats upon request
HOUSE OF REPRESENTATIVES
H. F. No. 1245
NINETY-FOURTH SESSION
Authored by Wolgamott and Anderson, P. H.,02/20/2025
The bill was read for the first time and referred to the Committee on Capital Investment