HF2224

Purpose of the Bill

The purpose of this bill is to provide funding for flood mitigation projects in the city of Moorhead, Clay County, and the Buffalo-Red River Watershed District. This will help prevent or reduce flood damage in these areas.

Main Provisions

• The bill appropriates $60,400,000 from the bond proceeds fund specifically for flood hazard mitigation grants. These funds are allocated for projects involving publicly owned capital improvements aimed at preventing flood damage.
• The funding applies to projects in Moorhead, Clay County, and the Buffalo-Red River Watershed District.
• The bill designates that if the cost of a project is more than two percent of the median household income times the number of households in a municipality, this appropriation can also cover the local share of that project.

Significant Changes

• The bill authorizes the sale and issuance of state bonds up to $60,400,000 to provide the necessary funds for these mitigation projects. This action falls under the existing legal frameworks provided by Minnesota Statutes and the Minnesota Constitution for bond issuance and management.

Relevant Terms

• Flood mitigation
• Bond proceeds fund
• State bonds
• Capital improvements
• Publicly owned infrastructure