Bill > SF1463

This bill appropriates $200,000,000 from state bond proceeds to the University of Minnesota for Higher Education Asset Preservation and Replacement (HEAPR), which is a program designed to help maintain and improve existing university facilities and infrastructure. The funds will be used in accordance with Minnesota Statutes, section 135A.046, which governs how such capital investment funds can be spent. To obtain these funds, the commissioner of management and budget is authorized to sell and issue state bonds up to the $200,000,000 amount, following specific procedures outlined in Minnesota Statutes, sections 16A.631 to 16A.675, and in alignment with the Minnesota Constitution's provisions regarding state debt. The bill becomes effective immediately after it is enacted, allowing the University of Minnesota to quickly access and begin using the funds for necessary facility repairs, renovations, and maintenance projects.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF1463&ssn=0&y=2025