This bill proposes the transfer of certain state-owned land within the Cloquet Forestry Center to the University of Minnesota, with the intent of facilitating the university's efforts to return the land to the Fond du Lac Band of Lake Superior Chippewa. The commissioner of administration is mandated to convey the land without consideration, and the conveyance must be approved by the attorney general, who is authorized to make necessary corrections to the land description. The specific parcels of land to be transferred are detailed in the bill, encompassing various sections and townships in Carlton County.

Additionally, the bill appropriates $1,300,000 from the general fund for fiscal year 2026 to the commissioner of management and budget. This funding is designated for the prepayment and defeasance of outstanding state general obligation bonds related to improvements at the Cloquet Forestry Center, as well as associated financing costs. Once the debt is settled, the property will no longer be classified as state bond financed property, thereby fulfilling the conditions outlined in existing statutes. Both sections of the bill are set to take effect the day following final enactment.