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SF1958 (Legislative Session 94 (2025-2026))

Minnesota State Colleges and Universities higher education projects bond issuance and appropriation

AI Generated Summary

This bill (S.F. No. 1958) is a capital investment measure that appropriates funds for higher education projects within the Minnesota State Colleges and Universities system. It authorizes the issuance of state bonds to finance these projects.

Key Provisions:

  1. Total Appropriation:

    • $552,348,000 from the bond proceeds fund to the Board of Trustees of the Minnesota State Colleges and Universities.

  2. Project Funding Breakdown:

    • $200,000,000 for Higher Education Asset Preservation and Replacement (HEAPR).
    • Specific funding for facility renovations, new construction, and equipment upgrades for various institutions, including:
      • Saint Paul College: $34,857,000 for classroom, lab, and student services improvements.
      • Minnesota State University, Mankato: $87,922,000 to replace Armstrong Hall and renovate other buildings.
      • Winona State University: $75,620,000 for a new flexible classroom space and student services building.
      • Alexandria Technical & Community College: $35,539,000 for student services and a new Transportation Center.
      • Additional allocations for improvements at Riverland Community College, Southwest Minnesota State University, Rochester Community & Technical College, Minnesota West Community & Technical College, Ridgewater College, Minnesota State College Southeast, South Central College, Anoka-Ramsey Community College, Dakota County Technical College, and Normandale Community College.

  3. Debt Service Requirements:

    • The institutions must pay one-third of the principal amount of the state bonds, except in cases where HEAPR funds are used, or there is a required non-state funding match.
    • The Minnesota Commissioner of Management and Budget oversees debt payments and ensures compliance.

  4. Use of Unspent Funds:

    • Any unused funds from completed projects must be reallocated for HEAPR projects at the original campus, with oversight from the Board of Trustees.
    • The board must report on spending and reallocations to legislative committees biennially.

This bill aims to enhance infrastructure across Minnesota's public higher education institutions by addressing facility repairs, replacements, and modernization efforts.

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
February 26, 2025SenateFloorActionIntroduction and first reading
February 26, 2025SenateFloorActionReferred toCapital Investment

Citations

 
[
  {
    "analysis": {
      "added": [
        "Specific allocations for multiple colleges and universities for renovation and new construction projects."
      ],
      "removed": [],
      "summary": "The bill appropriates $200,000,000 to be spent in accordance with Minnesota Statutes section 135A.046 for Higher Education Asset Preservation and Replacement (HEAPR). The section outlines guidelines for asset preservation in higher education institutions.",
      "modified": [
        "Adjustment in the management of unspent appropriations."
      ]
    },
    "citation": "135A.046"
  },
  {
    "analysis": {
      "added": [
        "New processes for reducing board assessments by the commissioner based on net income from bond investments."
      ],
      "removed": [],
      "summary": "The bill references Minnesota Statutes section 16A.641 subdivision 10 for the crediting of payments received from the board to the bond debt service account.",
      "modified": [
        "Debt service payment and allotment reduction processes."
      ]
    },
    "citation": "16A.641 subdivision 10"
  },
  {
    "analysis": {
      "added": [
        "Specification that unspent appropriations must be used for HEAPR on the same campus."
      ],
      "removed": [],
      "summary": "The application of Minnesota Statutes section 16A.642 is mentioned relating to the management of unspent appropriations for completed projects.",
      "modified": [
        "Compliance requirement from the date of the original appropriation for unspent amounts transferred."
      ]
    },
    "citation": "16A.642"
  }
]

Sponsors