1.1 	A bill for an act
1.2 	relating to capital investment; appropriating money for local government roads 
1.3 	wetland replacement program; authorizing the sale and issuance of state bonds.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. LOCAL GOVERNMENT ROADS WETLAND REPLACEMENT 
1.6 	PROGRAM.
 1.7 		Subdivision 1.Appropriation. $16,380,000 is appropriated from the bond proceeds 
1.8 	fund to the Board of Water and Soil Resources to acquire land or permanent easements and 
1.9 	to restore, create, enhance, and preserve wetlands to replace those wetlands drained or filled 
1.10 	as a result of the repair, reconstruction, replacement, or rehabilitation of existing public 
1.11 	roads as required by Minnesota Statutes, section 103G.222, subdivision 1, paragraphs (l) 
1.12 	and (m). The purchase price paid for acquisition of land or perpetual easement must be a 
1.13 	fair market value as determined by the board. The board may enter into agreements with 
1.14 	the federal government, other state agencies, political subdivisions, nonprofit organizations, 
1.15 	fee title owners, or other qualified private entities to acquire wetland replacement credits 
1.16 	in accordance with Minnesota Rules, chapter 8420.
1.17 		Subd. 2.Bond sale. To provide the money appropriated in this section from the bond 
1.18 	proceeds fund, the commissioner of management and budget shall sell and issue bonds of 
1.19 	the state in an amount up to $16,380,000 in the manner, upon the terms, and with the effect 
1.20 	prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota 
1.21 	Constitution, article XI, sections 4 to 7.

1.22 	EFFECTIVE DATE. This section is effective the day following final enactment.