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HF2075 (Legislative Session 94 (2025-2026))

Transportation economic development program grant funding provided, trunk highway bonds issued, and money appropriated.

Related bill: SF295

AI Generated Summary

Purpose of the Bill

The purpose of this bill is to provide financial resources for the development of transportation infrastructure in Minnesota. This is achieved by allocating funds for the transportation economic development program through the issuance of trunk highway bonds.

Main Provisions

  • Appropriation of Funds: The bill appropriates $15,000,000 from the bond proceeds account in the trunk highway fund. This appropriation is directed to the commissioner of transportation to be used expressly for the transportation economic development program as outlined in Minnesota Statutes section 174.12.

  • Bond Sale Authorization: The bill authorizes the commissioner of management and budget to sell and issue bonds totaling up to $15,000,000. These bonds are to be issued in accordance with both existing Minnesota Statutes and the state constitution, particularly sections that govern the sale of state bonds.

Significant Changes

The legislation introduces the sale and issuance of new trunk highway bonds specifically for funding the transportation economic development program. This action represents a continued investment in statewide transportation infrastructure, potentially leading to economic benefits for the region through enhanced transportation facilities.

Relevant Terms

  • Transportation economic development
  • Trunk highway bonds
  • Bond proceeds account
  • Commissioner of transportation
  • Appropriation

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 09, 2025HouseFloorActionIntroduction and first reading, referred toTransportation Finance and Policy

Citations

 
[
  {
    "analysis": {
      "added": [
        "A new appropriation of $15,000,000 for the grant program."
      ],
      "removed": [],
      "summary": "The bill appropriates funds for the transportation economic development program under section 174.12.",
      "modified": []
    },
    "citation": "174.12"
  },
  {
    "analysis": {
      "added": [
        "Authorization for sale and issuance of bonds for the appropriation."
      ],
      "removed": [],
      "summary": "The bill authorizes bond sales and issuance according to sections 167.50 to 167.52.",
      "modified": []
    },
    "citation": "167.50 to 167.52"
  }
]

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