HF2082

Purpose of the Bill

This bill is designed to provide funding for the construction, reconstruction, and improvement of state trunk highways in Minnesota. It aims to address funding needs through the issuance of trunk highway bonds.

Main Provisions

• Funding Appropriation: Allocates $200 million from the bond proceeds account in the trunk highway fund specifically to the Minnesota Commissioner of Transportation.
• Usage of Funds: The money is to be used for highway construction and improvements, which includes design-build contracts and covering internal department costs related to these construction activities. Up to 17% of the allocated funds may be used for program delivery.

Sale and Issuance of Bonds

• The bill authorizes the sale and issuance of up to $200 million in state bonds to provide the necessary funds.
• The Minnesota Commissioner of Management and Budget is responsible for managing the bond sale process, following guidelines specified in Minnesota Statutes and the Minnesota Constitution related to highway financing.

Significant Changes to Existing Law

• This bill authorizes new bonds not previously issued and allocates new appropriated funds specifically for road construction projects, which may involve terms and conditions as prescribed by existing state law.

Relevant Terms

trunk highway bonds, highway construction, bond proceeds, transportation funding, design-build contracts, Minnesota Department of Transportation (MnDOT).