The bill mandates the preparation of a report on agricultural land trends in Minnesota, with an appropriation of funds from the general fund to the commissioner of agriculture for fiscal year 2024. The report will focus on various aspects of agricultural land, defined as class 2a agricultural land or class 2b rural vacant land, and will include information on land sales, usage differences across regions, and legislative recommendations to ensure land availability for farmers. The commissioner is authorized to collaborate with external experts and relevant state departments to compile this data, ensuring that no personally identifiable information is disclosed.

The report is required to be submitted by January 1, 2025, to the legislative committees overseeing agriculture. Additionally, any unspent funds from the appropriation will carry over into fiscal year 2025, and the bill specifies that this is a one-time funding measure. The effective date of this section is set for the day following its final enactment.