1.1    .................... moves to amend H.F. No. 3292, the second engrossment, as follows:
1.2Delete everything after the enacting clause and insert:

1.3    "Section 1. Minnesota Statutes 2006, section 84.027, is amended by adding a
1.4subdivision to read:
1.5    Subd. 18. Permanent school fund authority. The commissioner of natural
1.6resources has authority and responsibility for the administration of permanent school fund
1.7lands under sections 92.121 and 127A.31. The commissioner shall annually report to the
1.8Permanent School Fund Advisory Committee on ways to maximize the revenue generated
1.9from school trust fund lands. The commissioner shall accelerate land exchanges, land
1.10sales, and commercial leasing of school trust lands, and manage the trust lands to
1.11maximize the long-term economic return for the permanent school fund lands.

1.12    Sec. 2. Minnesota Statutes 2006, section 127A.30, is amended to read:
1.13127A.30 PERMANENT SCHOOL FUND ADVISORY COMMITTEE.
1.14    Subdivision 1. Membership. A state Permanent School Fund Advisory Committee
1.15is established to advise the Department of Natural Resources on the management of
1.16permanent school fund land, which is held in trust for the school districts of the state. The
1.17advisory committee must consist of the following persons or their designees: the chairs
1.18of the education committees of the legislature, the chairs of the legislative committees
1.19with jurisdiction over the K-12 education budget, the chairs of the legislative committees
1.20with jurisdiction over the environment and natural resources, the chairs chair of the senate
1.21Committee on Finance and the chair of the house Committee on Ways and Means, the
1.22commissioner of education, one superintendent from a nonmetropolitan district, and one
1.23superintendent from a metropolitan area district, one person with an expertise in forestry,
1.24one person with an expertise in minerals and mining, one person with an expertise in real
1.25estate development, one person with an expertise in renewable energy, and one person
1.26with an expertise in finance and land management. The school district superintendents
2.1shall be appointed by the commissioner of education. The committee members with
2.2areas of expertise in forestry, minerals and mining, real estate development, renewable
2.3energy, and finance and land management shall be appointed by the commissioner of
2.4natural resources. Members of the legislature shall be given the opportunity to recommend
2.5candidates for vacancies on the committee to the commissioners of education and natural
2.6resources. The advisory committee must also include a nonvoting member appointed
2.7by the commissioner of natural resources. The commissioner of natural resources shall
2.8provide administrative support to the committee. The members of the committee shall
2.9serve without compensation. The members of the Permanent School Fund Advisory
2.10Committee shall elect their chairperson.
2.11    Subd. 2. Duties. The advisory committee shall review the policies of the
2.12Department of Natural Resources and current statutes on management of school trust fund
2.13lands at least semiannually annually and shall recommend necessary changes in statutes,
2.14policy, and implementation in order to ensure provident utilization of the permanent
2.15school fund lands. By January 15 of each year, the advisory committee shall submit a
2.16report and any necessary draft legislation to the legislature with recommendations for the
2.17management of school trust lands to secure long-term economic return for the permanent
2.18school fund, consistent with sections 92.121 and 127A.31. The committee's annual report
2.19must include recommendations to:
2.20    (1) improve the efficiency of the Department of Natural Resources' management of
2.21school trust fund lands;
2.22    (2) reduce expenditures that are used to manage school trust fund lands and
2.23maximize the revenues deposited in the permanent school trust fund;
2.24    (3) accelerate land exchanges, land sales, and commercial leasing of school trust
2.25lands; and
2.26    (4) manage the school trust lands to maximize the long-term economic return for
2.27the permanent school trust fund.
2.28    Subd. 3. Duration. Notwithstanding section 15.059, subdivision 5, the advisory
2.29committee is permanent and does not expire."
2.30Delete the title and insert:
2.32relating to education; managing school trust fund lands; improving the returns
2.33for school trust fund lands; redefining the mission of the Permanent School Fund
2.34Advisory Committee; providing a report;amending Minnesota Statutes 2006,
2.35sections 84.027, by adding a subdivision; 127A.30."