Purpose of the Bill

The purpose of this bill is to allocate state funding to support research efforts in emerging and critical industry sectors. The goal is to foster innovation and technological advancements that can contribute to the economic and industrial development of Minnesota.

Main Provisions

• Funding Allocation: The bill proposes appropriations of $40 million for the fiscal year 2026 and an additional $40 million for fiscal year 2027.
• Beneficiary: The funds will be allocated from Minnesota's general fund to the University of Minnesota's Board of Regents.
• Research Focus Areas: The appropriations are designated specifically for research in the following sectors:
  • Biomanufacturing: Developing advanced manufacturing techniques that utilize biological systems.
  • Precision Agriculture: Enhancing agricultural productivity and efficiency through technology.
  • Hypersonics: Innovating in high-speed transportation and flight technologies.
  • Green Energy and Green Iron Industries: Promoting sustainable energy solutions and eco-friendly iron production methods.

Significant Changes to Existing Law

The bill introduces new funding specifically targeted at advancing research in selected high-potential industries. While it does not change existing laws, it significantly supports state-backed research initiatives by financially empowering the University of Minnesota Board of Regents to explore and innovate within promising industrial sectors.

Relevant Terms

• Appropriation
• University of Minnesota
• Biomanufacturing
• Precision Agriculture
• Hypersonics
• Green Energy
• Green Iron Industries
• Innovation
• New Technologies