SF 3415 Summary

• Capital Investment Appropriations: Authorizes $1.305 billion in general obligation bond proceeds and additional funding from other sources for public land, buildings, and infrastructure improvements across state agencies.

• Major Funding Areas: Allocates money for higher education ($343+ million for University of Minnesota and Minnesota State systems), transportation ($232+ million for bridges and rail grade separations), and natural resources ($73+ million for parks and flood mitigation).

• Bond Authorization: Authorizes issuance of state bonds totaling approximately $1.4+ billion across multiple funds (bond proceeds, transportation, trunk highway, and school loan funds) to finance capital projects.

• Program Modifications: Amends existing statutes to modify water infrastructure funding programs, increase bonding authority limits for housing and public facilities, and establish new programs for hazardous materials rail safety and transportation facilities capital.

• Effective Date: Legislation is effective the day following final enactment, with specific effective dates for certain bond authorizations and housing infrastructure provisions.