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MN HF2985

Bill

Official Source

Status

Introduced

3/12/2014

Primary Sponsor

Steve Drazkowski

Click for details

Origin

House of Representatives

88th Legislature 2013-2014

AI Summary

  • Amends Minnesota Statutes section 16A.641 to add a new subdivision limiting use of borrowed funds for capital investment projects
  • Restricts state share of funding for any capital program, project, or project phase to a maximum of 90 percent through bond sales or borrowed funds
  • Requires a minimum of 10 percent of the state share to be funded through non-borrowed sources

Legislative Description

Capital investment projects use of borrowed funds limited.

Last Action

Introduction and first reading, referred to Capital Investment

3/12/2014

Committee Referrals

Capital Investment3/12/2014

Full Bill Text

No bill text available