The bill appropriates $96,900,000 from the bond proceeds fund to the Board of Trustees of the Minnesota State Colleges and Universities for significant improvements at Minnesota State University, Mankato. This funding will be used for the demolition and removal of Armstrong Hall, the design, construction, furnishing, and equipping of a new academic building to replace it, as well as renovations to other campus facilities to support academic programs and functions currently housed in Armstrong Hall.

To finance this appropriation, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $96,900,000, following the procedures outlined in Minnesota Statutes and the Minnesota Constitution. The effective date of this section is set for the day following its final enactment.