HF2490 Summary

• Total Capital Investment Authorization: Appropriates $893,054,000 in bond proceeds and other funds for state capital projects across multiple agencies and departments.

• Major Allocations: University of Minnesota ($119.4M), Minnesota State Colleges and Universities ($159.8M), Natural Resources ($63.5M), Administration/Capitol Renovation ($127M), and Human Services ($86.4M).

• Bond Authorization: Authorizes the sale of state general obligation bonds up to $853,849,000 from the bond proceeds fund, $36,613,000 from the state transportation fund, and $5,491,000 from the maximum effort school loan fund.

• Key Projects Include: Capitol renovation and restoration, University of Minnesota Tate Laboratory renovation, metropolitan transit capital improvements, state trail acquisition and development, flood hazard mitigation grants, and various facility asset preservation projects.

• Legislative Amendments: Modifies bonding authority provisions, extends negotiated bond sale authority through 2018, and establishes reporting requirements for older capital projects with unspent appropriations.