MN HF2546

Appropriates $241,000,000 in bond proceeds to the commissioner of administration for the State Capitol restoration project sequences A through D as proposed by the State Capitol Preservation Commission in 2012.

Authorizes the commissioner of management and budget to issue and sell state bonds up to $241,000,000 with maturity dates no more than six years from issuance, following Minnesota Statutes sections 16A.631 to 16A.675 and Minnesota Constitution article XI, sections 4 to 7.

Dedicates all annual revenue from the arts and cultural heritage fund to pay debt service on the Capitol restoration bonds, with any surplus available only for early bond retirement.

Amends Minnesota Statutes 2010, section 129D.17, by adding a new subdivision specifying that the dedication of arts and cultural heritage fund revenue expires once all debt service obligations are fully extinguished.

Takes effect the day following final enactment.