MN HF1630

Establishes state policy that bond proceeds appropriations to the University of Minnesota Board of Regents or Minnesota State Colleges and Universities Board of Trustees must fully fund the complete cost of capital projects at those institutions.

Prohibits the Board of Regents and Board of Trustees from being required to pay debt service on state bonds issued to finance capital projects or cover any portion of capital project costs from institutional sources.

Applies to all bond proceeds appropriations made on or after the day following final enactment of the bill.

Adds new section 16A.865 to Minnesota Statutes, chapter 16A, establishing the full funding requirement as legislative policy.