The bill proposes an appropriation of $12,835,000 from the bond proceeds fund to the commissioner of employment and economic development for a grant to Ramsey County. This funding is designated for the predesign, design, and construction of facility and site improvements necessary to renovate the Aldrich Arena, transforming it into a regional and statewide event center.

To finance this appropriation, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the same amount of $12,835,000, following the procedures outlined in Minnesota Statutes and the Minnesota Constitution. The bill also specifies that it will take effect the day after its final enactment.