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MN HF1455

MN HF1455
Minnesota River Basin Area II flood hazard mitigation funding provided, bonds issued, and money appropriated.


summary

Introduced
02/24/2025
In Committee
02/24/2025
Crossed Over
Passed
Dead

Introduced Session

94th Legislature 2025-2026

Bill Summary

A bill for an act relating to capital improvements; appropriating money for flood hazard mitigation in Area II of the Minnesota River Basin; authorizing the sale and issuance of state bonds.

AI Summary

This bill provides funding and authorizes bond issuance for flood hazard mitigation in Area II of the Minnesota River Basin. Specifically, the bill appropriates $1,500,000 from the bond proceeds fund to the Board of Water and Soil Resources, to be granted to Minnesota River Basin Projects for capital improvements aimed at preventing or alleviating flood damage. The funding comes with a matching requirement: state funds will only be released after the board confirms that $1 in non-state funds has been committed for every $3 of the state grant. To finance this appropriation, the commissioner of management and budget is authorized to sell and issue state bonds up to $1,500,000, following standard state bonding procedures outlined in Minnesota Statutes and the state constitution. The bill becomes effective the day after it is officially enacted, providing a mechanism to support local flood mitigation efforts in the Minnesota River Basin region.

Committee Categories

Budget and Finance

Sponsors (1)

Last Action

Hearing (10:15:00 3/20/2025 ) (on 03/20/2025)

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