HF1178

Purpose

• Authorize a capital investment appropriation and bond issuance to support the University of Minnesota’s FAARM program (Future of Advanced Agricultural Research in Minnesota) by funding initial development in Mower County. The goal is to advance education and research facilities related to agricultural innovation.

Main provisions and what the bill seeks to accomplish

• Appropriation amount: The bill allocates 20,000,000 from the bond proceeds fund to the University of Minnesota, Board of Regents, for the FAARM project in Mower County.
• Scope of funds: The money is to be used for land acquisition, site preparation, predesign, design, and preconstruction activities for new education research animal housing, equipment storage, and related support facilities.
• Initial phase: This funding represents the initial phase of the project; any funds remaining after completing this phase may be used for later phases, including preconstruction and construction.
• Cost sharing: The appropriation is intended to cover about two-thirds of the costs for this initial phase. The remaining costs must be paid from university sources.
• Bond financing: The state will sell and issue bonds up to 20,000,000 to finance the appropriation, under the terms of Minnesota statutes (16A.631 to 16A.675) and the Minnesota Constitution (Article XI, sections 4 to 7).
• Administration: The money is to be provided to the Board of Regents of the University of Minnesota to carry out the project.

Significant changes to existing law

• Creates a new, specific capital investment appropriation and bond authorization to fund the FAARM project in Mower County.
• Establishes the funding split (two-thirds state bond funds, one-third university sources) for the initial phase.
• Formalizes the process for issuing state bonds to support the project under existing bonding statutes and constitutional provisions.

Relevant context: This bill ties the FAARM program to a concrete, funded development of facilities in Mower County, supported by bond financing and administered through the University of Minnesota’s Board of Regents.

Relevant Terms - FAARM (Future of Advanced Agricultural Research in Minnesota) - Mower County - University of Minnesota - Board of Regents - land acquisition - site preparation - predesign - design - preconstruction - education research animal housing - equipment storage - supporting facilities - initial phase - bond proceeds fund - bond sale - Commissioner of Management and Budget - Minnesota Statutes 16A.631 to 16A.675 - Minnesota Constitution Article XI, sections 4 to 7