The bill appropriates $15,000,000 from the bond proceeds fund to the Minnesota Valley Regional Rail Authority for the rehabilitation of railroad tracks between Winthrop and Hanley Falls. This funding can also be utilized for necessary environmental documentation, remediation, predesign, design, and the rehabilitation or replacement of bridges and culverts in the specified area. Additionally, a portion of the grant may serve as matching funds to satisfy federal grant requirements. This appropriation is supplementary to previous grants and loans provided for similar projects under various Minnesota Statutes.

To finance the appropriation, the commissioner of management and budget is authorized to sell and issue state bonds up to the amount of $15,000,000, following the procedures outlined in Minnesota Statutes and the Minnesota Constitution. The bill specifies that it will take effect the day after it is enacted.