MN SF2562

Appropriates $100,000,000 from bond proceeds fund to the Commissioner of Natural Resources to acquire school trust land through condemnation proceedings.

Authorizes the Commissioner of Natural Resources to exercise eminent domain power under Minnesota Statutes chapter 117 to acquire fee title to school trust land.

Eliminates the requirement for formal appraisal of school trust land and allows the Commissioner to determine land value in consultation with the Permanent School Fund Advisory Committee.

Directs the Commissioner of Management and Budget to issue up to $100,000,000 in state bonds to fund the appropriation under Minnesota Statutes sections 16A.631 to 16A.675 and the Minnesota Constitution.

Awards from condemnation proceedings shall be deposited into the permanent school fund.