The bill appropriates $5,000,000 from the bond proceeds fund to the commissioner of employment and economic development for a grant to the Austin Port Authority. This funding is designated for the design, construction, furnishing, and equipping of a renovated space at the Hormel Institute in Austin, which will serve as a learning laboratory focused on workforce development, K-12 engagement, and professional training in STEM and bioimaging education.

Additionally, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $5,000,000 to provide the necessary funds for the project. The provisions for the bond sale will follow the guidelines set forth in Minnesota Statutes and the Minnesota Constitution. The bill will take effect the day after it is enacted.