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SF2015 (Legislative Session 94 (2025-2026))

Moorhead and Buffalo-Red River Watershed District flood mitigation bond issue and appropriation

Related bill: HF2224

AI Generated Summary

This bill, S.F. No. 2015, proposes a capital investment appropriation for flood mitigation projects in Moorhead, Clay County, and the Buffalo-Red River Watershed District in Minnesota. It authorizes the use of state bonds to fund these projects.

Key Provisions:

  1. Appropriation:

    • $60.4 million is allocated from the state’s bond proceeds fund to the Commissioner of Natural Resources for flood hazard mitigation grants aimed at public capital improvements that prevent or reduce flood damage.
    • If a project's cost exceeds 2% of the median household income in a municipality or township (multiplied by the number of households there), the appropriation will also cover the local share of costs.

  2. Bond Issuance:

    • The Commissioner of Management and Budget is authorized to sell and issue up to $60.4 million in state bonds to finance the flood mitigation projects.
    • The issuance will comply with Minnesota Statutes (Sections 16A.631 to 16A.675) and Minnesota Constitution (Article XI, Sections 4-7).

Purpose:

The bill aims to prevent and alleviate flood damage by funding large-scale infrastructure improvements through state-backed bonds.

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
February 26, 2025HouseFloorActionIntroduction and first reading
February 26, 2025SenateFloorActionIntroduction and first reading
February 26, 2025HouseFloorActionReferred toCapital Investment
February 26, 2025SenateFloorActionReferred toCapital Investment

Citations

 
[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This section provides state grants for flood hazard mitigation projects.",
      "modified": []
    },
    "citation": "103F.161",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This section details the process for the sale and issuance of state bonds.",
      "modified": []
    },
    "citation": "16A.631",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This section involves further specifications on the terms and management of state bond sales.",
      "modified": []
    },
    "citation": "16A.675",
    "subdivision": ""
  }
]

Sponsors