SF1958

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.