Duties of school trust lands director modified, director's required report to the Legislative Permanent School Fund Commission modified, and report required.

This bill modifies the duties of Minnesota's school trust lands director and establishes new reporting requirements for the Legislative Permanent School Fund Commission. The director will be required to develop a ten-year strategic plan and a 25-year framework for managing school trust lands, with goals to retain core assets, increase their value, and explore revenue-generating options including ecosystem services markets. Additionally, the director must submit an annual written report by January 15 each year detailing management activities, financial positions, and recommended statutory changes to improve asset allocation. The bill also clarifies the director's role as temporary trustee during eminent domain proceedings and requires quarterly public meetings to inform beneficiaries and the public about trust land management work. These changes take effect on July 1, 2026.