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, building construction, and machinery 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 produce these products, specifically targeting companies that received 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 part of the funding adjustments to facilitate the new appropriation for bioindustrial facilities. The payments to eligible companies will be based on claims submitted under the relevant statutes, ensuring that those who have not received payment for their claims by May 15, 2025, will be compensated from this one-time appropriation, which will remain available until July 1, 2027.