The bill appropriates $200,000,000 from the bond proceeds fund to the Board of Regents of the University of Minnesota for the purpose of Higher Education Asset Preservation and Replacement (HEAPR). This funding is intended to be utilized in accordance with Minnesota Statutes, section 135A.046. Additionally, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the same amount to provide the necessary funds for this appropriation, following the procedures outlined in Minnesota Statutes, sections 16A.631 to 16A.675, and the Minnesota Constitution, article XI, sections 4 to 7.

The effective date of this section is set for the day following its final enactment, ensuring that the appropriated funds can be accessed promptly for the intended preservation and replacement projects at the University of Minnesota.