The bill proposes the appropriation of $44,000,000 from the bond proceeds fund to the commissioner of transportation for the port development assistance program, as outlined in Minnesota Statutes, chapter 457A. It stipulates that any improvements funded by these grants must be publicly owned. Additionally, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the same amount to finance this appropriation, following the procedures established in relevant Minnesota statutes and the state constitution.

Furthermore, the bill includes a provision stating that it will take effect the day after it is enacted. This legislation aims to enhance port development in Minnesota by providing necessary funding and ensuring that the improvements made are publicly accessible.