Bill > SF2862

This bill modifies the annual volume cap allocations and allocation procedures for public facility bonds in Minnesota by making several key changes. The bill reduces the small issue pool allocation from $74,530,000 to $25,500,000 and increases the public facilities pool allocation from $12,750,000 to $61,780,000. It also extends the time frame for issuers to permanently issue obligations from 120 to 180 days after receiving an allocation. The bill adjusts the allocation procedure for the unified pool of bonding authority, specifically changing the order of priority for allocations before and after October 1st. Notably, applications for public facility projects funded by public facility bonds are moved to be the second priority before October 1st, and are removed from the priority list after October 1st. Additionally, the bill introduces a new provision reserving $50,000,000 of bonding authority within the unified pool for public facilities bonds from July through November, or an amount equal to the total annual allocation to the public facilities pool minus the amount already allocated to issuers that year. These changes aim to provide more flexibility and opportunity for public facility bond allocations while maintaining a structured approach to distributing bonding authority across different types of projects.

Labor and Employment

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2862&ssn=0&y=2025