MN HF796

Establishes the Minnesota First bond program under Minnesota Statutes, chapter 16A, allowing the commissioner of finance to issue state general obligation bonds in small denominations attractive to individual investors.

Requires the commissioner to determine appropriate denominations and maturities, with a minimum denomination of $1,000 for savings bonds, and defines "denomination" as the compounded maturity amount for zero coupon bonds.

Authorizes the commissioner to sell savings bonds directly to the public or financial institutions for resale, and to enter into contracts for investment banking and banking services only after receiving competitive proposals.

Requires development of a marketing plan that includes strategies to inform the public about bond availability, take orders, target Minnesota residents, and market bonds at the lowest cost to the state.