MN HF4485

Modifies allocation of income from state mineral lease royalties to the permanent university fund for mineral research and scholarships, effective January 1, 2013

Allocates up to $50,000,000 to the mineral research account for the Natural Resources Research Institute facilities in Duluth and Coleraine for mineral and environmental research

Credits up to $25,000,000 to an endowment supporting mining, mineral, mineral-related, or STEM degree programs through the Swenson College of Science and Engineering at University of Minnesota Duluth, with scholarships capped at 75 percent of in-state tuition rates per academic year for up to four years

Directs remaining income over the $50,000,000 and $25,000,000 thresholds to an endowed scholarship account for University of Minnesota undergraduate resident students, distributed proportionally across campuses

Requires the Board of Regents to report biennially to education committees on scholarship account disbursements and to environment and natural resources committees on mineral research account use