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HF1732 (Legislative Session 94 (2025-2026))

St. Joseph; community center funding provided, bonds issued, and money appropriated.

Related bill: SF1451

AI Generated Summary

Purpose

  • The bill aims to use state bonds to fund a local project: it would provide a grant to the city of St. Joseph to build a community center. It designates $10 million from the bond proceeds fund for this purpose.

Main Provisions

  • Subdivision 1 – Appropriation:

    • The sum of $10,000,000 is appropriated from the bond proceeds fund.
    • The money goes to the commissioner of employment and economic development to grant to the city of St. Joseph to construct a community center.

  • Subdivision 2 – Bond Sale:

    • To pay for the appropriation, the commissioner of management and budget must sell and issue state bonds up to $10,000,000.
    • The bonds must be issued under the terms and conditions in Minnesota statutes sections 16A.631 to 16A.675 and in the Minnesota Constitution, article XI, sections 4 to 7.

What this means and potential impact

  • The state would incur debt and commit resources to fund a local community project.
  • The local project would be financed through a grant to the city of St. Joseph, with repayment or debt management governed by state bond laws.

Significant changes to existing law

  • Introduces a new appropriation of $10 million from the bond proceeds fund for St. Joseph’s community center.
  • Adds authorization to issue and sell up to $10 million in state bonds to finance this appropriation, under specified Minnesota law and constitutional provisions.

Relevant Terms - bond proceeds fund - appropriation - grant - city of St. Joseph - community center - commissioner of employment and economic development - commissioner of management and budget - sale and issuance of bonds - $10,000,000 - Minnesota Statutes sections 16A.631 to 16A.675 - Minnesota Constitution Article XI sections 4 to 7

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
February 27, 2025HouseActionIntroduction and first reading, referred toCapital Investment

Citations

 
[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill references Minnesota Statutes sections 16A.631 to 16A.675, which govern the sale and issuance of state bonds, to authorize funding via bond proceeds for a capital investment project.",
      "modified": []
    },
    "citation": "16A.631 to 16A.675",
    "subdivision": ""
  }
]

Progress through the legislative process

17%
In Committee

Sponsors

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