SF2096

SF2096 (Legislative Session 94 (2025-2026))

Corridors of commerce program bond issue and appropriation

AI Generated Summary

This bill proposes an appropriation of $400 million from the bond proceeds account in the trunk highway fund for Minnesota's Corridors of Commerce program, which is governed by Minnesota Statutes, section 161.088. The funding will be used for transportation infrastructure improvements, with up to 17% allocated for program delivery.

To finance this appropriation, the bill authorizes the sale and issuance of state trunk highway bonds worth up to $400 million. The Commissioner of Management and Budget is responsible for issuing these bonds, following the relevant statutes (Minnesota Statutes, sections 167.50 to 167.52) and the Minnesota Constitution (Article XIV, Section 11). The bond proceeds, excluding accrued interest and any premiums from the bond sales, will be deposited in the bond proceeds account of the trunk highway fund.

In summary, this bill seeks to secure funding for transportation projects under the Corridors of Commerce program by issuing trunk highway bonds.

Bill text versions

Introduction PDF file

Actions

Date	Chamber	Where	Type	Name	Committee Name
March 02, 2025	Senate	Floor	Action	Introduction and first reading
March 02, 2025	Senate	Floor	Action	Introduction and first reading
March 02, 2025	House	Floor	Action	Introduction and first reading
March 02, 2025	Senate	Floor	Action	Referred to	Transportation
March 02, 2025	Senate	Floor	Action	Referred to	Transportation
March 02, 2025	House	Floor	Action	Referred to	Transportation
March 02, 2025	Senate	Floor	Action	Referred to	Transportation

Citations

[
  {
    "analysis": {
      "added": [
        "Authorization for new funds allocation from bond proceeds."
      ],
      "removed": [
        ""
      ],
      "summary": "This bill appropriates funds for the corridors of commerce program under section 161.088.",
      "modified": [
        "Usage of funds now allows up to 17% for program delivery."
      ]
    },
    "citation": "161.088",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [
        "Bond sale authorization for funding transportation projects."
      ],
      "removed": [
        ""
      ],
      "summary": "This bill involves issuing bonds as per directives in sections 167.50 to 167.52.",
      "modified": [
        ""
      ]
    },
    "citation": "167.50",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [
        "Bond sale authorization for funding transportation projects."
      ],
      "removed": [
        ""
      ],
      "summary": "This bill involves issuing bonds as per directives in sections 167.50 to 167.52.",
      "modified": [
        ""
      ]
    },
    "citation": "167.51",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [
        "Bond sale authorization for funding transportation projects."
      ],
      "removed": [
        ""
      ],
      "summary": "This bill involves issuing bonds as per directives in sections 167.50 to 167.52.",
      "modified": [
        ""
      ]
    },
    "citation": "167.52",
    "subdivision": ""
  }
]