Minnesota Climate Innovation Finance Authority elimination

The bill eliminates the Minnesota Climate Innovation Finance Authority, transferring its debt obligations to the commissioner of management and budget. It repeals the statute establishing the authority and mandates the transfer of its outstanding debt obligations by June 30, 2026. The bill ensures that authority investments are not made solely to reduce private risk and that private financing entities do not control the terms of investments. Effective July 1, 2026.

Minnesota Climate Innovation Finance Authority elimination

The bill eliminates the Minnesota Climate Innovation Finance Authority, transferring its debt obligations to the commissioner of management and budget. It repeals the statute establishing the authority and mandates the transfer of its outstanding debt obligations by June 30, 2026. The bill ensures that authority investments are not made solely to reduce private risk and that private financing entities do not control the terms of investments. Effective July 1, 2026.