MN HF1706

Creates an outdoor heritage trust fund account in the special revenue fund, managed by the State Board of Investment under section 11A.24.

Provides eligible state land acquired with at least 20 percent outdoor heritage fund money a one-time trust fund payment equal to 30 times the prior year property taxes, with payments made by the commissioner of revenue to counties annually.

Requires counties to deposit trust fund payments into trust funds under chapter 118A or invest with the State Board of Investment, and to withdraw and distribute funds annually to local governments based on appraised land value, not exceeding 5-1/2 percent of trust fund account market value.

Excludes land acquired with outdoor heritage fund money from natural resources land payment programs under sections 477A.11 to 477A.14, effective July 1, 2015.

Appropriates an unspecified amount from the outdoor heritage fund in fiscal year 2016 to the commissioner of management and budget for deposit into the outdoor heritage trust fund account.