Flooded commercial, industrial, and residential properties buy out pilot program appropriation

This bill appropriates $5 million from the general fund for a pilot program to buy out properties damaged by flooding. It directly affects owners of commercial, industrial, and residential properties repeatedly flooded in Minnesota. The program requires the commissioner of natural resources to purchase eligible properties and place 50-year deed restrictions prohibiting future commercial, industrial, or residential construction on those sites. The commissioner may later sell or dispose of the properties under applicable law. This is a limited funding initiative for a specific flood mitigation approach.