The bill appropriates $60,400,000 from the bond proceeds fund to the commissioner of natural resources for flood hazard mitigation grants aimed at publicly owned capital improvements in the city of Moorhead, Clay County, and the Buffalo-Red River Watershed District. This funding is intended to prevent or alleviate flood damage in these areas, and it also covers the local share of projects if costs exceed a specified threshold based on median household income and the number of households in the municipality.

To finance this appropriation, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the same amount of $60,400,000, following the procedures outlined in Minnesota Statutes and the state constitution. The provisions of this bill will take effect the day after it is enacted.