This bill proposes the transfer of certain state-owned land within the Cloquet Forestry Center to the University of Minnesota. The commissioner of administration is required to convey this land, which is located in Carlton County, to the Board of Regents of the University of Minnesota without any consideration. The specific parcels of land to be conveyed are detailed in the bill, and the conveyance must be approved by the attorney general, who is also authorized to make necessary corrections to the land description.

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, with the aim of facilitating the return of the land to the Fond du Lac Band of Lake Superior Chippewa. The bill stipulates that once the debt is settled, the property will no longer be classified as state bond financed property. Both sections of the bill are set to take effect the day following final enactment.