Purpose of the Bill

The purpose of this bill is to allocate funds for research focused on advancing the iron ore industry in Minnesota. The goal is to support the development of a competitive next-generation iron ore industry by exploring new feedstock resources.

Main Provisions

• Funding Allocation: The bill appropriates $750,000 from the renewable development account in the special revenue fund for the fiscal year 2026. This funding is directed to the Board of Regents of the University of Minnesota.
• Research Study: The Natural Resources Research Institute at the University of Minnesota will conduct a study. This study will explore various resources including iron ore, energy, water, hydrogen, biomass, carbon materials, as well as process technologies.
• Additional Focus Areas: The research will also look into transportation and manufacturing infrastructure needed to support iron production and industries such as liquid fuels and ammonia.

Significant Changes

• The appropriation noted in the bill overrides the restrictions set by Minnesota Statutes section 116C.779, subdivision 1, paragraph j, which typically governs the use of funds from the renewable development account.

Reporting Requirements

• An interim report must be submitted to the legislative committees that manage energy policy and finance by May 15, 2027.
• A final report is due by May 15, 2028.

Relevant Terms

• Renewable development account
• Iron ore industry
• Feedstock resources
• Natural Resources Research Institute
• Hydrogen, biomass, carbon materials
• Transportation and manufacturing infrastructure
• Liquid fuels, ammonia