This bill appropriates $15,000,000 from the Minnesota forward fund account in the climate and economic development fund for fiscal year 2026 to support bioindustrial facilities. The funds are designated for businesses that have made private investments in land development, utility infrastructure, construction, and equipment purchases for the construction and operation of bioindustrial facilities aimed at producing advanced biofuels, renewable chemicals, and biomass thermal energy, with projects that commenced before June 30, 2024. Starting August 1, 2026, the commissioner of employment and economic development will accept applications for payments to existing bioindustrial facilities that meet specific criteria, including prior funding under certain Minnesota Statutes.

Additionally, the bill includes a cancellation of $15,000,000 from the fiscal year 2024 Minnesota forward fund account appropriation as specified in previous legislation. This cancellation is intended to reallocate funds to support the new initiative for bioindustrial facilities, ensuring that the financial resources are directed towards advancing the state's economic development goals in the bioindustrial sector.