Bill > SF2881

This bill modifies how mining royalty income is allocated within the University of Minnesota's Permanent University Fund (PUF). Currently, mining royalty income is split between mineral research and scholarship programs, but the bill changes the allocation percentages and timing. Starting January 1, 2026, the income will be divided into four equal parts: (1) up to $150,000,000 for mineral and mineral-related research at the Natural Resources Research Institute facilities in Duluth and Coleraine, (2) up to $25,000,000 for operating and scholarship support for mining, mineral, and STEM degree programs at Minnesota North College and University of Minnesota Duluth, with scholarships limited to 75% of resident tuition rates, (3) funding for the Natural Resources Research Institute's general operating and research costs, and (4) any remaining funds directed to an endowed scholarship account for undergraduate resident students at the University of Minnesota, distributed proportionally across campuses. The bill also maintains existing provisions that limit endowment support to six percent per year of the account's 36-month trailing average market value. These changes aim to provide more flexible and targeted support for research, education, and student scholarships in mining and related scientific fields.

Education

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2881&ssn=0&y=2025