HF3763 Summary

• Clarifies that taconite economic development fund distributions may be released only for workforce development, concurrent reclamation, plant and mining equipment acquisition, or research and development in mining and steel production technology, with matching expenditures required from producers beginning in 2014.

• Removes "associated public facility improvement" from the permitted uses of taconite economic development funds, effective July 1, 2018.

• Redirects unreleased taconite economic development fund money after one year to the taconite environmental protection fund (two-thirds) and Douglas J. Johnson economic protection trust fund (one-third).

• Provides a one-time transfer of ten cents per ton of excess balance from the 2018 taconite tax distribution to the fund established under subdivision 7, to be made within ten days of the August 2018 payment.

• Adds explicit restriction that money in the Douglas J. Johnson economic protection trust fund shall not be expended, appropriated, or transferred for any purpose except as specifically provided in statute.