This 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. The program includes a provision for placing deed restrictions on the acquired properties, which will prohibit any commercial, industrial, or residential construction for a period of 50 years following the purchase.

Additionally, the bill clarifies that once a deed restriction is imposed on a property, the commissioner retains the authority to sell or otherwise dispose of the property in accordance with existing laws. This approach aims to mitigate the impact of flooding on affected areas while ensuring that the land remains undeveloped for an extended period.