MN HF3663

Expands the biomedical science research funding program to include a clinical research facility on the University of Minnesota's Twin Cities campus that will house the Clinical Translational Science Institute and related research programs.

Authorizes the state to fund 100 percent of design, land acquisition, site preparation, and preconstruction services for the clinical research facility, compared to 75 percent funding for other biomedical projects.

Allows general fund appropriations previously designated for biomedical research facilities debt service to also pay debt service on bonds issued for the clinical research facility.

Redirects unused annual appropriations from biomedical research facility debt service toward clinical research facility costs, with any excess amounts canceled to the general fund.

Maintains the existing appropriation schedule capped at $13,930,000 annually starting in fiscal year 2015, with the Board of Regents providing reports to the legislature on all biomedical science research facility projects every even-numbered year.