The bill proposes a capital investment aimed at flood mitigation in North Minneapolis, specifically targeting the Cleveland neighborhood. It appropriates $20,000,000 from the bond proceeds fund to the Public Facilities Authority for a grant to the city of Minneapolis. This funding is designated for the design, construction, and equipping of improvements to replace aging and failing municipal stormwater infrastructure, which is essential to prevent recurring flooding in the area. The appropriation also includes funds for associated street reconstruction on 34th, 35th, and Washburn Avenues.

To finance this appropriation, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $20,000,000. The sale and issuance of these bonds will be conducted in accordance with the relevant Minnesota Statutes and the state constitution. The bill is set to take effect the day following its final enactment.