The bill proposes a capital investment initiative aimed at enhancing the infrastructure for electric buses in Minnesota by appropriating $1,000,000 from the bond proceeds fund. This funding is designated for the commissioner of commerce to provide grants to eligible applicants for the acquisition and installation of Level 2 and Level 3 charging stations specifically for electric buses used in student transportation. The grants will be distributed in accordance with the existing electric school bus deployment program outlined in Minnesota Statutes, section 216C.374.

Additionally, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $1,000,000 to finance the appropriated funds. The bond issuance will follow the procedures and terms established by Minnesota Statutes, sections 16A.631 to 16A.675, and the Minnesota Constitution. The provisions of this bill will take effect the day after it is enacted.