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 16A.06, is amended by adding a
1.4subdivision to read:
1.5    Subd. 10. Permanent school fund reporting. The commissioner shall biannually
1.6report to the Permanent School Fund Advisory Committee and the legislature on the
1.7management of the permanent school trust fund that shows how the commissioner
1.8maximized the long-term economic return of the permanent school trust fund.

1.9    Sec. 2. Minnesota Statutes 2006, section 84.027, is amended by adding a subdivision
1.10to read:
1.11    Subd. 18. Permanent school fund authority; reporting. The commissioner of
1.12natural resources has the authority and responsibility for the administration of school trust
1.13lands under sections 92.121 and 127A.31. The commissioner shall biannually report to the
1.14Permanent School Fund Advisory Committee and the legislature on the management of
1.15the school trust lands that shows how the commissioner has and will continue to achieve
1.16the following goals:
1.17    (1) manage the school trust lands efficiently;
1.18    (2) reduce the management expenditures of school trust lands and maximize the
1.19revenues deposited in the permanent school trust fund;
1.20    (3) manage the sale, exchange, and commercial leasing of school trust lands to
1.21maximize the revenues deposited in the permanent school trust fund and retain the value
1.22from the long-term appreciation of the school trust lands; and
1.23    (4) manage the school trust lands to maximize the long-term economic return for the
1.24permanent school trust fund while maintaining sound natural resource conservation and
1.25management principals.

2.1    Sec. 3. Minnesota Statutes 2006, section 127A.30, is amended to read:
2.2127A.30 PERMANENT SCHOOL FUND ADVISORY COMMITTEE.
2.3    Subdivision 1. Membership. A state Permanent School Fund Advisory Committee
2.4is established to advise the Department of Natural Resources on the management of
2.5permanent school fund land, which is held in trust for the school districts of the state. The
2.6advisory committee must consist of the following persons or their designees: the chairs
2.7of the education committees of the legislature, the chairs of the legislative committees
2.8with jurisdiction over the K-12 education budget, the chairs of the legislative committees
2.9with jurisdiction over the environment and natural resources, the chairs chair of the senate
2.10Committee on Finance and the chair of the house Committee on Ways and Means, the
2.11commissioner of education, one superintendent from a nonmetropolitan district, and one
2.12superintendent from a metropolitan area district, one person with an expertise in forestry,
2.13one person with an expertise in minerals and mining, one person with an expertise in
2.14real estate development, one person with an expertise in renewable energy, one person
2.15with an expertise in finance and land management, and one person with an expertise in
2.16natural resource conservation. The school district superintendents shall be appointed
2.17by the commissioner of education. The committee members with areas of expertise in
2.18forestry, minerals and mining, real estate development, renewable energy, finance and land
2.19management, and natural resource conservation shall be appointed by the commissioner of
2.20natural resources. Members of the legislature shall be given the opportunity to recommend
2.21candidates for vacancies on the committee to the commissioners of education and natural
2.22resources. The advisory committee must also include a nonvoting member appointed
2.23by the commissioner of natural resources. The commissioner of natural resources shall
2.24provide administrative support to the committee. The members of the committee shall
2.25serve without compensation. The members of the Permanent School Fund Advisory
2.26Committee shall elect their chairperson and are bound by the provisions of sections
2.2743A.38 and 116P.09, subdivision 6.
2.28    Subd. 2. Duties. The advisory committee shall review the policies of the
2.29Department of Natural Resources and current statutes on management of school trust fund
2.30lands at least semiannually annually and shall recommend necessary changes in statutes,
2.31policy, and implementation in order to ensure provident utilization of the permanent
2.32school fund lands. By January 15 of each year, the advisory committee shall submit a
2.33report to the legislature with recommendations for the management of school trust lands to
2.34secure long-term economic return for the permanent school fund, consistent with sections
2.3592.121 and 127A.31. The committee's annual report may include recommendations to:
2.36    (1) manage the school trust lands efficiently;
3.1    (2) reduce the management expenditures of school trust lands and maximize the
3.2revenues deposited in the permanent school trust fund;
3.3    (3) manage the sale, exchange, and commercial leasing of school trust lands to
3.4maximize the revenues deposited in the permanent school trust fund and retain the value
3.5from the long-term appreciation of the school trust lands; and
3.6    (4) manage the school trust lands to maximize the long-term economic return for the
3.7permanent school trust fund while maintaining sound natural resource conservation and
3.8management principals.
3.9    Subd. 3. Duration. Notwithstanding section 15.059, subdivision 5, the advisory
3.10committee is permanent and does not expire."
3.11Delete the title and insert:
3.13relating to education; managing school trust fund lands; improving the returns
3.14for school trust fund lands; redefining the mission of the Permanent School Fund
3.15Advisory Committee; providing a report;amending Minnesota Statutes 2006,
3.16sections 16A.06, by adding a subdivision; 84.027, by adding a subdivision;
3.17127A.30."