The bill establishes a Permanent School Trust Lands Task Force aimed at addressing issues related to permanent school trust lands located within or near Tribal lands. The task force will consist of appointed members with expertise in areas such as Tribal lands, American Indian education, and land management policies. Members will be appointed by various Tribal leaders, the Minnesota Indian Affairs Council, and legislative leaders, with the first meeting scheduled by September 1, 2026. The task force is tasked with examining policies for land exchanges, identifying obstacles to land transfers, and proposing effective mechanisms for these transfers, as well as making recommendations for funding sources.

Additionally, the bill outlines the administrative support and compensation for task force members, stating that the Legislative Coordinating Commission will provide necessary resources and that compensation will follow existing statutes. The task force is required to submit a report of its findings and recommendations to the relevant legislative committees by February 15, 2027, after which it will expire. The bill also includes appropriations from the general fund for the task force's administration and technical support from the Department of Natural Resources for the fiscal year 2027.