1.1 	A bill for an act
1.2 	relating to state lands; providing for the apportionment of proceeds from the sale 
1.3 	of certain tax-forfeited land in Itasca County.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. APPORTIONMENT OF PROCEEDS; TAX-FORFEITED LANDS; 
1.6 	ITASCA COUNTY.
 1.7 	Notwithstanding the provisions of Minnesota Statutes, chapter 282, and any other 
1.8 	law relating to the apportionment of proceeds from the sale of tax-forfeited land, Itasca 
1.9 	County may deposit proceeds from the sale of tax-forfeited lands that are classified for 
1.10 	land exchange into a tax-forfeited land replacement trust fund created in Laws 2006, 
1.11 	chapter 236, article 1, section 43, as amended by Laws 2008, chapter 368, article 1, section 
1.12 	18. The principal and interest from these proceeds may be spent only on the purchase of 
1.13 	lands to replace the tax-forfeited lands sold to Minnesota Steel Industries or for lands 
1.14 	better suited for retention by Itasca County.