1.1 	A bill for an act
1.2 	relating to state finances; providing a process to refund the state stadium bonds; 
1.3 	repurposing the funds in the general reserve account; providing for grants for youth 
1.4 	and collegiate sports;amending Minnesota Statutes 2022, section 297E.021, 
1.5 	subdivisions 3, 4.
1.6 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.7 	Section 1. Minnesota Statutes 2022, section 297E.021, subdivision 3, is amended to read:
1.8 		Subd. 3.Available revenues. For purposes of this section, "available revenues" equals 
1.9 	the amount determined under subdivision 2~~, plus up to $20,000,000 each fiscal year from~~ 
1.10 	~~the taxes imposed under section 290.06, subdivision 1~~:
1.11 	(1) reduced by the following amounts paid for the fiscal year under:
1.12 	~~(i) the appropriation to principal and interest on appropriation bonds under section~~ 
1.13 	~~16A.965, subdivision 8;~~
1.14 	~~(ii)~~ (i) the appropriation from the general fund to make operating expense payments 
1.15 	under section 473J.13, subdivision 2, paragraph (b);
1.16 	~~(iii)~~ (ii) the appropriation for contributions to the capital reserve fund under section 
1.17 	473J.13, subdivision 4, paragraph (c);
1.18 	~~(iv)~~ (iii) the appropriations under Laws 2012, chapter 299, article 4, for administration 
1.19 	and any successor appropriation;
1.20 	~~(v) the reduction in revenues resulting from the sales tax exemptions under section~~ 
1.21 	~~297A.71, subdivision 43;~~
1.22 	~~(vi) reimbursements authorized by section 473J.15, subdivision 2, paragraph (d);~~
2.1 	~~(vii)~~ (iv) the compulsive gambling appropriations under section 297E.02, subdivision 
2.2 	3, paragraph (c), and any successor appropriation; and
2.3 	~~(viii)~~ (v) the appropriation for the city of St. Paul under section 16A.726, paragraph (c); 
2.4 	and
2.5 	(2) increased by the revenue deposited in the general fund under section 297A.994, 
2.6 	subdivision 4, clauses (1) to (3), for the fiscal year.

2.7 	EFFECTIVE DATE. This section is effective the day following the notification to the 
2.8 	revisor of statutes that the bonds under Minnesota Statutes, section 16A.965, are no longer 
2.9 	outstanding.

2.10 	Sec. 2. Minnesota Statutes 2022, section 297E.021, subdivision 4, is amended to read:
2.11 		Subd. 4.Appropriation; general reserve account. (a) To the extent the commissioner 
2.12 	determines that revenues are available under subdivision 3 for the fiscal year, those amounts 
2.13 	are appropriated from the general fund ~~for deposit in a general reserve account established~~ 
2.14 	~~by order of the commissioner of management and budget. Amounts in this reserve are~~ 
2.15 	~~appropriated as necessary for application against any shortfall in the amounts deposited to~~ 
2.16 	~~the general fund under section 297A.994 or, after consultation with the Legislative~~ 
2.17 	~~Commission on Planning and Fiscal Policy, amounts in this reserve are appropriated to the~~ 
2.18 	~~commissioner of management and budget for other uses related to the stadium authorized~~ 
2.19 	~~under section 473J.03, subdivision 8, that the commissioner deems financially prudent~~ 
2.20 	~~including but not limited to reimbursements for capital and operating costs relating to the~~ 
2.21 	~~stadium, refundings, and prepayment of debt. In no event, shall available revenues be~~ 
2.22 	~~pledged, nor shall the appropriations of available revenues made by this section constitute~~ 
2.23 	~~a pledge of available revenues as security for the prepayment of principal and interest on~~ 
2.24 	~~the appropriation bonds under section 16A.965~~ to the commissioner of management and 
2.25 	budget to pay for youth and collegiate sports programs. By October 15 of each year, the 
2.26 	commissioner must allocate 65 percent of the balance in the general reserve account in the 
2.27 	prior fiscal year for transfer to the Amateur Sports Commission for grants to support youth 
2.28 	sports programs throughout the state as provided in paragraph (b), ten percent of the balance 
2.29 	in the general reserve account in the prior fiscal year to the Board of Regents of the University 
2.30 	of Minnesota for grants for capital improvements for the institution's sports or recreational 
2.31 	facilities, and 20 percent of the balance in the general reserve account in the prior fiscal 
2.32 	year to the Board of Trustees of the Minnesota State Colleges and Universities for grants 
2.33 	for capital improvements for the institution's sports or recreational facilities. Grants to higher 
3.1 	education institutions must be distributed statewide and meet the requirement under paragraph 
3.2 	(c).
3.3 	(b) Grants awarded by the Amateur Sports Commission under this section must be used 
3.4 	for programs administered by the Amateur Sports Commission and must be awarded as 
3.5 	grants to local governments for youth sports programs. The Amateur Sports Commission 
3.6 	must equally distribute the grants among the state's congressional districts and must report 
3.7 	to the chairs and ranking minority members of the committee on finance in the senate and 
3.8 	the committee on ways and means in the house of representatives on the grants awarded.
3.9 	(c) Funds provided under paragraph (a) to the Board of Regents of the University of 
3.10 	Minnesota and the Board of Trustees of the Minnesota State Colleges and Universities are 
3.11 	only available for facilities that have a multiple-use purpose that includes the general public 
3.12 	in addition to its educational uses.

3.13 	EFFECTIVE DATE. This section is effective the day following the notification to the 
3.14 	revisor of statutes that the bonds under Minnesota Statutes, section 16A.965, are no longer 
3.15 	outstanding.

3.16 	Sec. 3. DEBT PAYOFF AND CONDITIONAL APPROPRIATION.
 3.17 	If the commissioner of management and budget elects to apply an amount from the 
3.18 	general reserve account established in Minnesota Statutes, section 297E.021, subdivision 
3.19 	4, to prepayment of debt issued under Minnesota Statutes, section 16A.965, during fiscal 
3.20 	year 2023 and if the amount available in the general reserve account is not sufficient to 
3.21 	prepay the debt in full, including any accrued interest and associated financing costs, then 
3.22 	an amount from the general fund is appropriated to the commissioner in fiscal year 2023 
3.23 	that, when added to the amount available in the general reserve account, is sufficient to 
3.24 	allow the commissioner to prepay the debt in full.

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

3.26 	Sec. 4. CONDITIONAL REPEALER.
 3.27 	When bonds authorized under Minnesota Statutes, section 16A.965, are no longer 
3.28 	outstanding, the commissioner of management and budget must notify the revisor of statutes 
3.29 	within 30 days of the final payment, and Minnesota Statutes, sections 16A.965 and 297E.021, 
3.30 	subdivision 1, are repealed the day following the notification.

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