This bill mandates the transfer of state-owned land within the Cloquet Forestry Center, located in Carlton County, Minnesota, to the University of Minnesota. The Commissioner of Administration must convey this land to the university's Board of Regents at no cost. The transfer must be executed in a form approved by the Attorney General, who is also authorized to make corrections for accuracy in the land description. The bill further provides a legal description of the specific plots of land to be transferred. Additionally, the bill appropriates funds to cover any outstanding debt related to state bond-financed property associated with the transfer.