MN SF1035

Creates a condemnation process to extinguish the school trust interest in designated school trust lands where long-term economic returns are prohibited by policy or designation.

Authorizes the Commissioner of Natural Resources to proceed with condemnation of identified school trust lands when sufficient funds are available, with the Attorney General commencing the legal action upon request.

Deposits the land value portion of condemnation awards into the permanent school fund, with remaining award amounts first reimbursing accounts for expenses incurred, and any surplus also deposited into the permanent school fund.

Appropriates funds from bond proceeds to the Commissioner of Natural Resources for acquiring school trust lands under this authorization.

Authorizes the Commissioner of Management and Budget to issue and sell state bonds up to a specified amount to provide funding for the school trust land acquisition.