HF906 (Legislative Session 94 (2025-2026))
Hangar construction revolving account deposit funding provided, bonds issued, and money appropriated.
Related bill: SF293
AI Generated Summary
This legislative bill, authored by Representatives Kresha and Schomacker, focuses on financial aspects related to aviation infrastructure in Minnesota. Specifically, the bill proposes the following:
Appropriation of Funds: It allocates $9,000,000 from the bond proceeds fund to the Commissioner of Transportation. This money is intended for deposit into the "hangar construction revolving account," which is established under Minnesota Statutes section 360.305, subdivision 4. The purpose of this allocation is likely to fund the construction or improvement of hangars, which are structures used for storing aircraft.
Bond Sale Authorization: To finance the $9,000,000 appropriation, the bill authorizes the Commissioner of Management and Budget to sell and issue state bonds. The process and terms of the bond sale are to be consistent with existing statutes (Minnesota Statutes sections 16A.631 to 16A.675) and constitutional provisions (Minnesota Constitution, article XI, sections 4 to 7).
In summary, this bill is aimed at enhancing aviation infrastructure by funding hangar construction through the issuance of state bonds, thereby supporting the growth and maintenance of aviation facilities in Minnesota.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 16, 2025 | House | Floor | Action | Introduction and first reading, referred to | Capital Investment |
Citations
[
{
"analysis": {
"added": [
"Appropriates funds from the bond proceeds fund for hangar construction."
],
"removed": [],
"summary": "This bill involves appropriating funds related to the hangar construction revolving account under section 360.305.",
"modified": [
"Specifies the use of appropriated funds for the hangar construction revolving account."
]
},
"citation": "360.305"
},
{
"analysis": {
"added": [
"Authorizes the sale and issuance of state bonds for funding purposes."
],
"removed": [],
"summary": "This bill references the bond sale and issuance procedures defined under sections 16A.631 to 16A.675.",
"modified": [
"Explains the terms and conditions for bond sale and issuance."
]
},
"citation": "16A.631"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "This bill references the procedures for bond issuance and financial management under sections 16A.631 to 16A.675.",
"modified": []
},
"citation": "16A.675"
}
]