summary
Introduced
01/16/2025
01/16/2025
In Committee
01/16/2025
01/16/2025
Crossed Over
Passed
Dead
Introduced Session
94th Legislature 2025-2026
Bill Summary
A bill for an act relating to capital investment; appropriating money for the small cities assistance program; authorizing the sale and issuance of state bonds.
AI Summary
This bill establishes a $25 million bond issue and appropriation for the Small Cities Assistance Program administered by the Minnesota Department of Transportation. Specifically, the bill appropriates $25 million from bond proceeds to fund the program, which is designed to support infrastructure and transportation projects in smaller municipalities. The commissioner of management and budget is authorized to sell and issue state bonds up to this amount, following standard state bonding procedures outlined in Minnesota Statutes sections 16A.631 to 16A.675 and in alignment with the Minnesota Constitution's provisions on state bonding. The bill's provisions will take effect immediately after its final enactment, providing a direct and immediate mechanism for funding small city infrastructure improvements through a state-backed bond issuance.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred to Capital Investment (on 01/16/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
---|---|
State Bill Page | https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF0029&ssn=0&y=2025 |
BillText | https://www.revisor.mn.gov/bills/text.php?number=SF29&version=0&session=ls94&session_year=2025&session_number=0&format=pdf |
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