This bill appropriates $200,000,000 from the bond proceeds fund to the Board of Regents of the University of Minnesota specifically for Higher Education Asset Preservation and Replacement (HEAPR). The funds are 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 funding, 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 appropriation and bond issuance is set for the day following the final enactment of the bill. This legislative action aims to support the maintenance and improvement of higher education facilities at the University of Minnesota, ensuring that the institution can continue to provide quality education and services to its students.