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HF2450 (Legislative Session 94 (2025-2026))

Small cities assistance program funding provided, bonds issued, and money appropriated.

Related bill: SF29

AI Generated Summary

Purpose of the Bill

The purpose of this bill is to secure funding for the Small Cities Assistance Program in Minnesota. This program aims to support smaller cities in the state by providing them with financial resources.

Main Provisions

  • Appropriation of Funds: The bill proposes to allocate $25,000,000 for the Small Cities Assistance Program. This appropriation is intended to enhance financial support for small cities across Minnesota.

  • Issuance of Bonds: To facilitate the allocation of funds, the bill authorizes the sale and issuance of state bonds. The commissioner of management and budget is given the responsibility to sell and issue bonds amounting to up to $25,000,000. The issuance and sale must comply with terms prescribed by relevant Minnesota statutes and sections of the Minnesota Constitution.

Significant Changes to Existing Law

The bill seeks to amend the current budgetary allocations by introducing a new financial aid structure, specifically targeting small cities through bond-issued funding. By leveraging state bond sales, this legislation aims to provide an increased and dedicated financial pool for the development and maintenance of infrastructure in smaller municipalities.

Relevant Terms

  • Capital investment
  • Small Cities Assistance Program
  • Appropriation
  • Bond proceeds fund
  • Bond sale
  • Commissioner of transportation
  • Commissioner of management and budget
  • Minnesota Constitution

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 16, 2025HouseFloorActionIntroduction and first reading, referred toCapital Investment

Citations

 
[
  {
    "analysis": {
      "added": [
        "Funding for small cities assistance program."
      ],
      "removed": [],
      "summary": "This bill appropriates money for the small cities assistance program under section 162.145.",
      "modified": []
    },
    "citation": "162.145",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill references procedures for the sale and issuance of bonds under section 16A.631.",
      "modified": []
    },
    "citation": "16A.631",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill references procedures for the sale and issuance of bonds under section 16A.675.",
      "modified": []
    },
    "citation": "16A.675",
    "subdivision": ""
  }
]

Sponsors