Use of certain money provided to the Minnesota Climate Innovation Finance Authority clarified.

A bill for an act

relating to energy; clarifying the use of certain money provided to the Minnesota

Climate Innovation Finance Authority; amending Minnesota Statutes 2024, section

216C.441, subdivision 3.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2024, section 216C.441, subdivision 3, is amended to read:

Subd. 3.

General powers.

(a) For the purpose of exercising the specific powers granted

in this section, the authority has the general powers granted in this subdivision.

(b) The authority may:

(1) hire an executive director and staff to conduct the authority's operations;

(2) sue and be sued;

(3) have a seal and alter the seal;

(4) acquire, hold, lease, manage, and dispose of real or personal property for the

authority's corporate purposes;

(5) enter into agreements, including cooperative financing agreements, contracts, or

other transactions, with a Tribal government, any federal or state agency, county, local unit

of government, regional development commission, person, domestic or foreign partnership,

corporation, association, or organization;

(6) acquire by purchase real property, or an interest therein, in the authority's own name

where acquisition is necessary or appropriate;

(7) provide general technical and consultative services related to the authority's purpose;

(8) promote research and development in matters related to the authority's purpose;

(9) conduct market analysis to determine where the market is underserved;

(10) analyze greenhouse gas emissions reduction project financing needs in the state

and recommend measures to alleviate any shortage of financing capacity;

(11) contract with any governmental or private agency or organization, legal counsel,

financial advisor, investment banker, or others to assist in the exercise of the authority's

powers;

(12) enter into agreements with qualified lenders or others insuring or guaranteeing to

the state the payment of qualified loans or other financing instruments; and

(13) accept on behalf of the state any gift, grant, or interest in money or personal property

tendered to the state for any purpose pertaining to the authority's activities.
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Money received

under this clause must be deposited in the account under subdivision 11.
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