HF1101 Summary

• Renames the Minnesota Higher Education Facilities Authority to the Minnesota Health and Education Facilities Authority and authorizes it to finance and construct health care facilities in addition to education facilities.

• Increases the authority's bonding capacity from $1.3 billion to $4 billion, with education facilities capped at $1.75 billion and health care facilities capped at $2.25 billion.

• Expands the authority's board from eight to nine members and adds a requirement for at least one member to be a trustee, director, officer, or employee of a health care organization.

• Requires health care facility projects financed by the authority to comply with all applicable state law requirements for authorizing construction or modifications to health care facilities.

• Makes conforming amendments to related statutes to reference the renamed authority and extends eligibility for authority financing to nonprofit health care organizations and their affiliates located in Minnesota or geographically contiguous states.