The bill proposes the establishment of a pilot program aimed at purchasing flooded commercial, industrial, and residential properties in Minnesota. It allocates $5,000,000 from the general fund for fiscal year 2026 to the commissioner of natural resources to facilitate this initiative.

Additionally, the bill includes provisions for placing deed restrictions on the acquired properties, which would prohibit any commercial, industrial, or residential construction for a period of 50 years following the purchase. However, once the deed restriction is in place, the commissioner retains the authority to sell or dispose of the property in accordance with existing laws.