SF3463 - Omnibus Capital Improvements Bonding Bill Summary

• Total Bond Authorization: Authorizes sale and issuance of approximately $1.4 billion in state bonds ($783.7 million general obligation bonds, $222.8 million transportation fund bonds, $400.4 million trunk highway fund bonds) for capital improvement projects.

• Major Appropriations: Allocates funds across multiple sectors including $85 million each to University of Minnesota and Minnesota State Colleges/Universities; $84.5 million to Natural Resources; $688.4 million to Transportation; $201 million to Public Facilities Authority for water infrastructure.

• Specific Projects: Funds include I-94 expansion in metro area, state park improvements, rail grade separations, water treatment facilities, university research facilities, and various local infrastructure projects across Minnesota.

• Key Conditions: Requires bond proceeds be used only for capital improvements per Minnesota Constitution; includes asset preservation programs; requires matching funds for certain grants; imposes project deadlines and reporting requirements.

• Transportation Policy: Establishes new requirement for Commissioner of Transportation to develop transparent capital project selection policies with clear criteria, stakeholder involvement, and public disclosure by November 2021.