The bill appropriates $109 million from the general fund for fiscal year 2024 to facilitate a settlement agreement concerning tax-forfeited lands in Minnesota. It establishes definitions and requirements for participating counties, which must agree to provide necessary public property tax records, make good faith efforts to sell certain forfeited properties, and remit a portion of the sale proceeds to the state. Specifically, counties are required to conduct sales for no less than appraised value and in cash, with 75% of proceeds going to the state for sales before June 30, 2027, and 85% for sales between July 1, 2027, and June 30, 2029.

Additionally, the bill outlines the responsibilities of nonparticipating counties, which retain liability for claims related to properties forfeited before January 1, 2024, and mandates reporting requirements for participating counties regarding their sales efforts and outcomes. The commissioner of management and budget is tasked with compiling and reporting this information to legislative committees annually. The provisions of the bill are effective the day after final enactment.