Subdivision 1. Certifications. Before the commissioner may make any payments authorized in this section to the Board of Regents for a biomedical science research facility project, the commissioner must certify that the board has, by board resolution, approved the maximum project cost for the project and complied with the requirements of section 137.63. For each project approved by the board, the board must certify to the commissioner the amount of the annual payments of principal and interest required to service each series of bonds issued by the University of Minnesota for the project, and the actual amount of the state's annual payment to the University of Minnesota under subdivision 2. The annual payment must not exceed the amount required to pay debt service on the bonds issued to finance 75 percent of the project costs of biomedical science research facilities authorized before 2019. The annual payment may additionally be for the amount required to pay debt service on the bonds issued to finance 100 percent of the costs of the clinical research facility.
Subd. 2. Payments. On July 15 of each year after the certification under subdivision 1, but no earlier than July 15, 2009, and for so long thereafter as any bonds issued by the board for a project, or any refunding bonds issued under subdivision 7, are outstanding, the state must transfer to the board annual payments as certified under subdivision 1, up to the maximum amounts in the appropriation schedule under subdivision 3. Payments under this section are to reimburse the Board of Regents for the state's share of the project costs for the biomedical science research facility projects, provided that the principal amount of bonds issued by the University of Minnesota to pay the state's share of the costs must not exceed $219,000,000.
Subd. 3. Appropriations. Annual appropriations are made from the general fund to the commissioner of management and budget for transfer to the Board of Regents, as follows:
(1) up to $850,000 is appropriated in fiscal year 2010;
(2) up to $3,650,000 is appropriated in fiscal year 2011;
(3) up to $7,825,000 is appropriated in fiscal year 2012;
(4) up to $12,100,000 is appropriated in fiscal year 2013;
(5) up to $14,825,000 is appropriated in fiscal year 2014;
(6) up to $15,550,000 is appropriated in fiscal year 2015 and each year thereafter through fiscal year 2020; and
(7) up to $13,930,000 is appropriated in fiscal year 2021 and each year thereafter through fiscal year 2039.
Subd. 4. Report to legislature. The Board of Regents must report to the committees of the legislature with responsibility for capital investment by January 15 of each even-numbered year on the biomedical science research facility projects authorized under this section. The report must at a minimum include, for each project, the total cost, the number of researchers, research grants, and the amount of debt issued by the board.
Subd. 5. Reinvestment. The Board of Regents must, to the extent permitted under federal law and University of Minnesota policies, place a priority on reducing the state's share of project costs by dedicating a share of the proceeds from any commercialization or licensing revenues attributable to research conducted in the biomedical science facilities to reducing the appropriations needed under subdivision 3.
Subd. 6. Services to individuals and firms. Consistent with its mission and governing policies and the requirements for tax-exempt bonds, the university shall make available laboratory and other services on a fee-for-service basis to individuals and firms in the bioscience industry in Minnesota. The university will not assert patent rights when providing services that do not involve its innovative intellectual contributions.
Subd. 7. Refunding of bonds; allocation of savings realized. (a) The board may issue bonds in one or more series to refund bonds that were issued for a project before January 1, 2019, if refunding is determined by the board to be in the best interest of the university. The principal amount of bonds issued in each refunding must not exceed the amount necessary to defease the associated bonds outstanding immediately prior to refunding. The amount of the state's annual payment to the university required for the debt service on the refunded bonds, or original bonds if not yet refunded, or a combination of the two, shall be up to the maximum annual appropriation under subdivision 3 for all series.
(b) The amount of the annual appropriation under subdivision 3 that is not needed to pay the annual debt service under paragraph (a) is appropriated to the Board of Regents of the University of Minnesota to pay the annual debt service amount on bonds issued by the university to pay the costs of design, land acquisition, site preparation, and preconstruction services of the clinical research facility.
(c) In any year that the state general fund appropriation authorized in this section exceeds the amount needed to pay debt service on bonds issued by the university for purposes specified in sections 137.61 to 137.65, the excess amount is canceled to the state general fund.
2008 c 179 s 47; 2009 c 101 art 2 s 109; 5Sp2020 c 3 art 5 s 16
Structure Minnesota Statutes
Chapters 135A - 137 — Postsecondary Education
Chapter 137 — University Of Minnesota
Section 137.02 — Powers And Duties Of Board Of Regents.
Section 137.021 — Acceptance Of Federal Money.
Section 137.022 — Permanent University Fund.
Section 137.0225 — University Promise Scholarship.
Section 137.0226 — Scholarship Funding Program.
Section 137.023 — University Student On Board Of Regents.
Section 137.024 — Congressional Districts Represented On Board Of Regents.
Section 137.0245 — Regent Candidate Advisory Council.
Section 137.0246 — Regent Nomination And Election.
Section 137.025 — Appropriations; Payment; Investment.
Section 137.0251 — Budgetary Information.
Section 137.0252 — Appropriation; Contract Buyout.
Section 137.027 — Appropriation; Fringe Benefits.
Section 137.028 — Biennial Budget Request; University Of Minnesota.
Section 137.04 — Library To Get Copies Of State Publications.
Section 137.09 — Board Of Regents Not To Exceed Appropriations; Penalty.
Section 137.10 — Refund Of Tuition To Students In Certain Cases.
Section 137.105 — Undergraduate Tuition Guarantee Plan.
Section 137.12 — Peace Officers; Appointment; Power Of Arrest.
Section 137.16 — Morris Branch.
Section 137.17 — Rochester Branch.
Section 137.22 — Higher Education Act Of 1965; Receipts.
Section 137.31 — Procurement From Small Businesses.
Section 137.32 — Minnesota Couples On The Brink Project.
Section 137.34 — Program Established.
Section 137.341 — Farm Safety Specialist Position.
Section 137.342 — Research Center For Agricultural Health And Safety.
Section 137.35 — Targeted Businesses.
Section 137.36 — Prompt Payment To Subcontractors.
Section 137.37 — Off-campus Sites And Centers.
Section 137.38 — Education And Training Of Primary Care Physicians.
Section 137.39 — Medical School Initiatives.
Section 137.40 — Residency And Other Initiatives.
Section 137.42 — Grants For Area Health Education Center Programs.
Section 137.43 — Substitute Physician Demonstration Project.
Section 137.44 — Health Professional Education Budget Plan.
Section 137.45 — Program For Students With Intellectual And Developmental Disabilities.
Section 137.47 — Fetal Tissue Research.
Section 137.51 — Land Protection And Transfer.
Section 137.52 — Contamination Remediation; Report.
Section 137.53 — Activities; Contracts.
Section 137.54 — Conditions For Payment To University.
Section 137.55 — Public Use Of Stadium.
Section 137.56 — Environmental Review.
Section 137.57 — No Full Faith And Credit.
Section 137.58 — Mitigation Fund.
Section 137.60 — Eminent Domain.
Section 137.63 — Biomedical Science Research Facilities Funding Program.
Section 137.64 — Conditions For Payments To University.
Section 137.65 — No Full Faith And Credit.
Section 137.66 — Minnesota Discovery, Research, And Innovation Economy Funding Program.
Section 137.67 — Minnesota Biomedicine And Bioethics Innovation Grants.