This bill amends Minnesota Statutes 2024, specifically section 127A.353, to modify the duties of the school trust lands director and to require an annual report to the Legislative Permanent School Fund Commission. Key changes include the removal of the requirement for the director to submit an annual budget and management plan for review, and instead, the director will now report on various aspects of school trust land management activities, including sustainable asset management strategies, financial positions, and recommended statutory changes to improve asset allocation. The bill also clarifies that the director must keep beneficiaries, the governor, the legislature, and the public informed about their work through this new reporting requirement.

Additionally, the bill introduces a new subdivision that mandates the school trust lands director to submit a written report by January 15 each year, detailing efforts in sustainable management, financial positions, and distributions from the permanent school fund to public school districts and charter schools. The effective date for these changes is set for July 1, 2026. Overall, the bill aims to enhance transparency and accountability in the management of school trust lands while ensuring that the interests of trust beneficiaries are prioritized.

Statutes affected:
Introduction: 127A.353