The bill appropriates $35 million from the bond proceeds fund for flood hazard mitigation projects in the Red River Basin, specifically targeting publicly owned capital improvements to prevent or alleviate flood damage. It outlines specific grants, including $13.748 million for the Bois de Sioux Watershed District for the Mustinka River Rehabilitation - Redpath Impoundment Project, $17.252 million for the Two Rivers Watershed District for the Klondike Clean Water Retention Project, and $4 million for the Roseau River Watershed District for the Roseau Lake Rehabilitation Project. The bill also stipulates that the local share of the project costs may be covered if they exceed a certain threshold based on median household income.

Additionally, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to $35 million to fund these appropriations, following the procedures outlined in Minnesota Statutes and the state constitution. The effective date of the bill is set for the day following its final enactment.