This bill amends Minnesota Statutes to establish limitations on the use of interest or investment income derived from transportation revenue. Specifically, it modifies section 162.16 by mandating that money in the county state-aid highway fund and municipal state-aid street fund must be invested in securities authorized for such purposes. Additionally, it introduces a new subdivision that defines "transportation revenue source" and stipulates that local units of government must use any interest or investment earnings from these sources exclusively for transportation-related purposes.

Furthermore, the bill amends section 473.13 by adding a subdivision that requires the council to adhere to the investment use requirements outlined in the newly added subdivision of section 162.16. The effective date for these changes is set for the day following final enactment, with specific application to the counties of Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington.

Statutes affected:
Introduction: 162.16, 473.13