Subdivision 1. Account established. The border-to-border broadband fund account is established as a separate account in the special revenue fund in the state treasury. The commissioner shall credit to the account appropriations and transfers to the account. Earnings, such as interest, dividends, and any other earnings arising from assets of the account, must be credited to the account. Funds remaining in the account at the end of a fiscal year are not canceled to the general fund, but remain in the account until expended. The commissioner shall manage the account.
Subd. 2. Expenditures. Money in the account may be used only:
(1) for grant awards made under section 116J.395, including costs incurred by the Department of Employment and Economic Development to administer that section;
(2) to supplement revenues raised by bonds sold by local units of government for broadband infrastructure development; or
(3) to contract for the collection of broadband deployment data from providers and the creation of maps showing the availability of broadband service.
Subd. 3. Appropriation. Money in the account is appropriated to the commissioner for the purposes of subdivision 2.
History: 2014 c 312 art 3 s 4
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