Bill > SF181

This bill establishes a $20,000,000 appropriation for the Minnesota Rail Service Improvement Program by authorizing the state to issue bonds. Specifically, the bill directs the commissioner of transportation to use the bond proceeds to provide grants under Minnesota Statutes section 222.50, which supports rail transportation infrastructure and services. The commissioner of management and budget is tasked with selling and issuing state bonds up to $20 million, following established procedures outlined in Minnesota Statutes sections 16A.631 to 16A.675 and in accordance with the Minnesota Constitution's provisions on state bonding. The bill will take effect immediately after it is enacted, providing immediate funding for rail service improvements in the state. By using bond proceeds, the legislation allows Minnesota to invest in transportation infrastructure without immediately drawing from current state revenues, instead spreading the cost over time through bond repayment.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF0181&ssn=0&y=2025