MN SF3521

Authorizes drainage authorities to acquire property and easements under a new riparian improvement revolving loan program administered by the Board of Water and Soil Resources.

Establishes an interest-free revolving loan fund allowing the Board of Water and Soil Resources to make loans to drainage authorities for eligible projects implementing permanent buffer strips of perennial vegetation.

Permits drainage authorities to acquire property in fee simple at market value (determined by licensed appraiser) or acquire easements at least 16.5 feet wide for a minimum 20-year term at rates established by the Board.

Requires drainage authorities to repay loans within ten years, with repayment funds coming from assessments of benefits on improved property and deposited back into the revolving fund.

Authorizes the sale and issuance of state bonds to provide funding for the riparian improvement revolving fund, with the specific appropriation amount to be determined.