Minnesota SF3494 allocates $5,000,000 for a pilot program to buy out flooded properties and restrict construction for 50 years.
Minnesota SF3494 establishes a pilot program to purchase flooded commercial, industrial, and residential properties. The bill allocates $5,000,000 from the general fund for fiscal year 2026 to the commissioner of natural resources. The program aims to buy out these properties and impose deed restrictions prohibiting any commercial, industrial, or residential construction for 50 years post-purchase. The commissioner retains the authority to sell or dispose of the properties in compliance with applicable laws.