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MN HF1245
MN HF1245University of Minnesota; Higher Education Asset Preservation and Replacement funding provided, bonds issued, and money appropriated.
summary
Introduced
02/20/2025
02/20/2025
In Committee
02/20/2025
02/20/2025
Crossed Over
Passed
Dead
Introduced Session
94th Legislature 2025-2026
Bill Summary
A bill for an act relating to capital investment; appropriating money for Higher Education Asset Preservation and Replacement at the University of Minnesota; authorizing the sale and issuance of state bonds.
AI Summary
This bill provides $200,000,000 in state bond funding specifically for the University of Minnesota's Higher Education Asset Preservation and Replacement (HEAPR) program. HEAPR is a state initiative designed to support maintenance, repair, and renovation of existing higher education facilities. The bill authorizes the commissioner of management and budget to sell and issue state bonds to fund these improvements, following established state financial procedures outlined in Minnesota Statutes. The bonds will be issued in accordance with constitutional and statutory guidelines, and the funding is to be used in compliance with existing HEAPR regulations. The legislation becomes effective immediately after it is enacted, allowing the University of Minnesota to proceed with critical infrastructure and facility upgrades using these allocated funds.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Author added Hemmingsen-Jaeger (on 03/06/2025)
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=House&f=HF1245&ssn=0&y=2025 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=HF1245&version=0&session=ls94&session_year=2025&session_number=0&format=pdf |
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