This bill appropriates $1,500,000 from the bond proceeds fund to the Board of Water and Soil Resources for flood hazard mitigation projects in Area II of the Minnesota River Basin. The funds are designated for a grant to support capital improvements aimed at preventing or alleviating 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 sale and issuance of these bonds will follow the procedures outlined in Minnesota Statutes and the Minnesota Constitution. The provisions of this bill will take effect the day after it is enacted.