The bill establishes a Greater Minnesota Housing Infrastructure Grant Program, which allows the commissioner to provide grants to counties and cities for up to 50% of the capital costs associated with public infrastructure necessary for eligible workforce housing development projects. The program aims to support both single-family and multifamily housing developments, with specific definitions provided for "city," "county," and "housing infrastructure." The bill outlines the application process, eligibility criteria, and maximum grant amounts, which are capped at $60,000 per lot for smaller housing developments and $100,000 per lot for larger multifamily projects. Additionally, it includes provisions for the cancellation of grants if projects do not progress in a timely manner.

To fund this initiative, the bill appropriates $10 million from the bond proceeds fund for the grant program and authorizes the sale and issuance of state bonds to raise the necessary funds. The commissioner of management and budget is tasked with managing the bond sale in accordance with existing state laws and constitutional provisions. The bill also stipulates that any grant money returned to the commissioner must be appropriated for additional grants under the program. The effective date for the provisions of the bill is set for the day following final enactment.