MN HF3996

A nine-member task force is established to examine the distribution of earnings from the permanent school fund endowment and evaluate potential changes to investment mix to maximize long-term returns.

Task force members must have professional experience in institutional asset management, investment finance, trust administration, investment fund accounting, investment banking, or law related to capital markets and trusts.

Membership includes the commissioner of education, one State Board of Investment representative, two governor appointees, two House members (appointed by speaker and minority leader), two Senate members (appointed by majority and minority leaders), and one legislative commission appointee.

Task force must report recommendations to legislative committee chairs and ranking minority members by January 15, 2026, with recommendations potentially including changes to state statutes and constitutional provisions governing the school trust fund.

An unspecified amount from the general fund is appropriated to the commissioner of education for fiscal year 2025 as a onetime appropriation available until June 30, 2026.