The bill proposes the establishment of a Transportation Economic Development Infrastructure Program, which includes an appropriation of $5,000,000 from the bond proceeds fund to the commissioner of transportation for grants as outlined in Minnesota Statutes, section 116J.436. This funding aims to support infrastructure projects that enhance transportation and economic development within the state.

To facilitate this appropriation, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $5,000,000. The sale and issuance of these bonds will be conducted in accordance with the relevant provisions of Minnesota Statutes and the Minnesota Constitution. The bill specifies that it will take effect the day following its final enactment.