MN SF3665

Authorizes general fund appropriations for biomedical science research facility debt service to also pay for debt service on bonds issued for a new clinical research facility on the University of Minnesota's Twin Cities campus.

State funds for the clinical research facility cover 100 percent of project costs for design, land acquisition, site preparation, and preconstruction services, while other four biomedical projects receive up to 75 percent state funding with 25 percent university/partner match.

Establishes annual appropriations ranging from $850,000 in fiscal year 2010 to $15,550,000 through fiscal year 2020, then $13,930,000 annually from fiscal year 2021 through fiscal year 2039.

Requires Board of Regents certification of maximum project costs and annual bond debt service amounts before state payments, with principal amount of bonds not to exceed $219,000,000.

Allows the university to issue refunding bonds for projects authorized before January 1, 2019, and redirects any unused annual appropriations to clinical research facility debt service or cancels excess amounts back to the general fund.