This bill appropriates $7,000,000 from the bond proceeds fund to the commissioner of natural resources for a grant to the Rice Creek Watershed District. The funds are designated for flood hazard mitigation projects specifically in the marked Interstate Highway 35W corridor, which includes the construction of water storage and treatment basins and the enhancement of water conveyance systems. These efforts aim to alleviate flooding issues in the cities of New Brighton, St. Anthony Village, and Roseville.

Additionally, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $7,000,000 to provide the necessary funding. The bond sale will be conducted in accordance with existing Minnesota statutes and constitutional provisions. The effective date of this section is set for the day following its final enactment.