The bill proposes the establishment of a Water Infrastructure Funding Program, which includes an appropriation of funds from the bond proceeds fund to the Public Facilities Authority for grants to eligible municipalities. Specifically, it allocates a portion of the funds, amounting to $9,000,000, for a grant to the city of Paynesville. This grant is intended for the predesign, design, construction, equipping, and furnishing of an expansion of the existing wastewater industrial pretreatment facility in Paynesville, aimed at increasing treatment capacity and upgrading systems and processes.

To finance the appropriated funds, the bill authorizes the commissioner of management and budget to sell and issue state bonds, with the total amount to be determined. The bond sale will be conducted in accordance with existing Minnesota statutes and constitutional provisions. The bill stipulates that it will take effect the day following its final enactment.