This bill appropriates $1,500,000 from the bond proceeds fund to the Board of Water and Soil Resources for a grant aimed at flood hazard mitigation in Area II of the Minnesota River Basin. The funds are designated for capital improvements intended to prevent or alleviate flood damage. However, the appropriation is contingent upon the board confirming that $1 has been committed from nonstate sources for every $3 of state grant provided.

Additionally, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $1,500,000 to fund the appropriation. The bond sale will be conducted in accordance with existing Minnesota statutes and constitutional provisions. The bill will take effect the day after it is enacted.