MN SF2737

Transfers administration and management of Minnesota school trust lands from the Commissioner of Natural Resources to a newly established school trust lands director position by July 1, 2020.

Creates a school trust management account in the special revenue fund to receive all revenues from school trust lands, including timber sales and mineral payments, with funds used for forest management, mineral resource management, real estate transaction costs, and administrative expenses.

Establishes that the school trust lands director may direct real estate transactions, accept donations on behalf of the permanent school fund, offer school trust lands at public auction, and employ up to five unclassified staff members.

Requires the Legislative Permanent School Fund Commission to recommend policies and oversee permanent school fund land management, with the director reporting quarterly to the commission on school trust land activities.

Reduces the minerals management account threshold from $3,000,000 to $1,500,000 for distribution to permanent funds and repeals provisions allowing condemnation of school trust lands.