The bill proposes an appropriation of $10,000,000 from the bond proceeds fund to the commissioner of employment and economic development for the establishment of the Minnesota Latino Museum in St. Paul. This funding will be used for acquiring property, as well as for the predesign, design, construction, furnishing, and equipping of the museum, which will be located at 85 West Water Street on Harriet Island. Additionally, the city of St. Paul is authorized to enter into a lease or management agreement for the museum's operation, in accordance with existing state statutes.

To finance this appropriation, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $10,000,000. The bond issuance will follow the procedures outlined in Minnesota Statutes and the Minnesota Constitution. The provisions of this bill will take effect the day after it is enacted.