This 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. The funds 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 currently housed in Armstrong Hall.

Additionally, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the appropriated amount to finance these improvements, following the procedures outlined in Minnesota Statutes and the state constitution. The provisions of this bill will take effect the day after it is enacted.