The bill proposes an appropriation of $44,000,000 from the bond proceeds fund to the commissioner of transportation for the port development assistance program, as outlined in Minnesota Statutes, chapter 457A. It stipulates that any improvements funded by these grants must be publicly owned. This funding aims to enhance port infrastructure and support economic development in the region.

To facilitate this appropriation, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $44,000,000. The issuance of these bonds will follow the procedures established in Minnesota Statutes, sections 16A.631 to 16A.675, and the relevant provisions of the Minnesota Constitution. The bill will take effect the day after it is enacted.