Capital investment; spending authorized to acquire and better public land and buildings and for other improvements of a capital nature, new programs established and existing programs modified, prior appropriations modified and canceled, bonds issued, and money appropriated.

This bill authorizes the state of Minnesota to spend money from bond proceeds and other funds to acquire, improve, and maintain public land and buildings. It establishes new programs and modifies existing ones to ensure capital projects are completed, including specific rules on how funds can be used for staff costs and grants to local governments. The legislation includes a $40 million appropriation for the University of Minnesota to address critical infrastructure needs, such as heating plant upgrades, HVAC repairs, and safety improvements at various campuses. Additionally, the bill allows for the issuance of state bonds to finance these long-term capital improvements while setting conditions to prevent the use of funds for projects that could be financed through other means.