SF4225 - Omnibus Capital Investment Bill Summary

• Capital Appropriations: Appropriates $76.261 million in fiscal year 2025 for capital improvements across state agencies including Natural Resources ($8.561M), Administration ($18.8M), Metropolitan Council ($6M), and various other departments for building, land, and infrastructure projects.

• Prevailing Wage Requirements: All projects funded must pay workers prevailing wage rates as defined in Minnesota law, with projects subject to specific wage and labor compliance provisions.

• Minerals Tax Modifications: Updates taconite tax distribution formulas, increases school consolidation account funding to 24 cents per ton through 2032, modifies municipal aid distributions, and raises maximum taconite tax relief limits from $315.10 to $515.

• Iron Range Bond Authorization: Authorizes $49 million in revenue bonds (2024) and $31 million (2025) for Iron Range resources and rehabilitation projects, with specific allocations to communities including infrastructure, recreational facilities, and economic development projects.

• Hubert H. Humphrey Statue: Requests Joint Committee on the Library of Congress approval to replace the Henry Mower Rice statue with a Hubert H. Humphrey statue in the U.S. Capitol's National Statuary Hall, with $300,000 appropriated for the project.