A bill for an act
relating to state finances; providing a process to refund the state stadium bonds;
repurposing the funds in the general reserve account; providing for grants for youth
and collegiate sports; amending Minnesota Statutes 2022, section 297E.021,
subdivisions 3, 4.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2022, section 297E.021, subdivision 3, is amended to read:


Subd. 3.

Available revenues.

For purposes of this section, "available revenues" equals
the amount determined under subdivision 2deleted text begin, plus up to $20,000,000 each fiscal year from
the taxes imposed under section 290.06, subdivision 1
deleted text end:

(1) reduced by the following amounts paid for the fiscal year under:

deleted text begin (i) the appropriation to principal and interest on appropriation bonds under section
16A.965, subdivision 8;
deleted text end

deleted text begin (ii)deleted text endnew text begin (i)new text end the appropriation from the general fund to make operating expense payments
under section 473J.13, subdivision 2, paragraph (b);

deleted text begin (iii)deleted text endnew text begin (ii)new text end the appropriation for contributions to the capital reserve fund under section
473J.13, subdivision 4, paragraph (c);

deleted text begin (iv)deleted text endnew text begin (iii)new text end the appropriations under Laws 2012, chapter 299, article 4, for administration
and any successor appropriation;

deleted text begin (v) the reduction in revenues resulting from the sales tax exemptions under section
297A.71, subdivision 43;
deleted text end

deleted text begin (vi) reimbursements authorized by section 473J.15, subdivision 2, paragraph (d);
deleted text end

deleted text begin (vii)deleted text endnew text begin (iv)new text end the compulsive gambling appropriations under section 297E.02, subdivision
3
, paragraph (c), and any successor appropriation; and

deleted text begin (viii)deleted text endnew text begin (v)new text end the appropriation for the city of St. Paul under section 16A.726, paragraph (c);
and

(2) increased by the revenue deposited in the general fund under section 297A.994,
subdivision 4, clauses (1) to (3), for the fiscal year.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following the notification to the
revisor of statutes that the bonds under Minnesota Statutes, section 16A.965, are no longer
outstanding.
new text end

Sec. 2.

Minnesota Statutes 2022, section 297E.021, subdivision 4, is amended to read:


Subd. 4.

Appropriation; general reserve account.

new text begin(a) new text endTo the extent the commissioner
determines that revenues are available under subdivision 3 for the fiscal year, those amounts
are appropriated from the general fund deleted text beginfor deposit in a general reserve account established
by order of the commissioner of management and budget. Amounts in this reserve are
appropriated as necessary for application against any shortfall in the amounts deposited to
the general fund under section 297A.994 or, after consultation with the Legislative
Commission on Planning and Fiscal Policy, amounts in this reserve are appropriated to the
commissioner of management and budget for other uses related to the stadium authorized
under section 473J.03, subdivision 8, that the commissioner deems financially prudent
including but not limited to reimbursements for capital and operating costs relating to the
stadium, refundings, and prepayment of debt. In no event, shall available revenues be
pledged, nor shall the appropriations of available revenues made by this section constitute
a pledge of available revenues as security for the prepayment of principal and interest on
the appropriation bonds under section 16A.965
deleted text endnew text begin to the commissioner of management and
budget to pay for youth and collegiate sports programs. By October 15 of each year, the
commissioner must allocate 65 percent of the balance in the general reserve account in the
prior fiscal year for transfer to the Amateur Sports Commission for grants to support youth
sports programs throughout the state as provided in paragraph (b), ten percent of the balance
in the general reserve account in the prior fiscal year to the Board of Regents of the University
of Minnesota for grants for capital improvements for the institution's sports or recreational
facilities, and 20 percent of the balance in the general reserve account in the prior fiscal
year to the Board of Trustees of the Minnesota State Colleges and Universities for grants
for capital improvements for the institution's sports or recreational facilities. Grants to higher
education institutions must be distributed statewide and meet the requirement under paragraph
(c).
new text end

new text begin (b) Grants awarded by the Amateur Sports Commission under this section must be used
for programs administered by the Amateur Sports Commission and must be awarded as
grants to local governments for youth sports programs. The Amateur Sports Commission
must equally distribute the grants among the state's congressional districts and must report
to the chairs and ranking minority members of the committee on finance in the senate and
the committee on ways and means in the house of representatives on the grants awarded
new text end.

new text begin (c) Funds provided under paragraph (a) to the Board of Regents of the University of
Minnesota and the Board of Trustees of the Minnesota State Colleges and Universities are
only available for facilities that have a multiple-use purpose that includes the general public
in addition to its educational uses.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following the notification to the
revisor of statutes that the bonds under Minnesota Statutes, section 16A.965, are no longer
outstanding.
new text end

Sec. 3. new text beginDEBT PAYOFF AND CONDITIONAL APPROPRIATION.
new text end

new text begin If the commissioner of management and budget elects to apply an amount from the
general reserve account established in Minnesota Statutes, section 297E.021, subdivision
4, to prepayment of debt issued under Minnesota Statutes, section 16A.965, during fiscal
year 2023 and if the amount available in the general reserve account is not sufficient to
prepay the debt in full, including any accrued interest and associated financing costs, then
an amount from the general fund is appropriated to the commissioner in fiscal year 2023
that, when added to the amount available in the general reserve account, is sufficient to
allow the commissioner to prepay the debt in full.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end

Sec. 4. new text beginCONDITIONAL REPEALER.
new text end

new text begin When bonds authorized under Minnesota Statutes, section 16A.965, are no longer
outstanding, the commissioner of management and budget must notify the revisor of statutes
within 30 days of the final payment, and Minnesota Statutes, sections 16A.965 and 297E.021,
subdivision 1, are repealed the day following the notification.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end

Statutes affected:
Introduction: 297E.021