MN SF3214

Eliminates the $20 million annual cap on available revenues under Minnesota Statutes section 297E.021 and removes the requirement to pledge revenues for prepayment of stadium bonds issued under section 16A.965.

Establishes mandatory allocation of general reserve account balances by October 15 each year: 65 percent to Amateur Sports Commission for youth sports grants distributed equally across congressional districts, 10 percent to University of Minnesota Board of Regents for sports facility capital improvements, and 20 percent to Minnesota State Colleges and Universities Board of Trustees for sports facility capital improvements.

Authorizes the commissioner of management and budget to prepay stadium debt from the general reserve account, with an additional appropriation from the general fund if the reserve account balance is insufficient to cover full prepayment including accrued interest and financing costs during fiscal year 2023.

Requires collegiate sports facility grants to serve multiple-use purposes that include general public access beyond educational uses.

Repeals stadium bond authorization statutes (sections 16A.965 and 297E.021, subdivision 1) within 30 days after final bond payment is made and the commissioner notifies the revisor of statutes.