Minnesota SF2881 modifies the allocation of mining royalty income within the permanent university fund.

Minnesota SF2881 modifies the allocation of mining royalty income within the permanent university fund. The bill specifies that 50% of the income must be allocated to the endowed scholarship account for scholarships and 50% to the endowed mineral research account for research. Scholarships are prioritized for students in Economic Development Region 3 and cannot exceed 75% of current resident tuition rates per academic year, with a maximum of four academic years.

Minnesota SF2881 modifies the allocation of mining royalty income within the permanent university fund.

Minnesota SF2881 modifies the allocation of mining royalty income within the permanent university fund. The bill specifies that 50% of the income must be allocated to the endowed scholarship account for scholarships and 50% to the endowed mineral research account for research. Scholarships are prioritized for students in Economic Development Region 3 and cannot exceed 75% of current resident tuition rates per academic year, with a maximum of four academic years.