MINNEAPOLIS (WCCO) — Governor Tim Walz on Wednesday signed the largest bonding bill in state history.

The bill finances $1.87 billion in public infrastructure projects statewide once other funding sources are counted. It also includes some supplemental spending to avoid layoffs of state employees and prevent the closure of two small correctional facilities, and a business tax break aimed at farms and small businesses.

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The bill received bipartisan support in the Minnesota House and Senate.

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“Our Local Jobs and Projects Plan will create thousands of good-paying jobs at a time when Minnesotans are looking for work,” said Walz. “This bipartisan plan invests in the projects that local communities told us matter most to them. Whether that’s roads and bridges, clean water, or affordable housing, this plan will help ensure every community in Minnesota prospers.”

The bonding bill was the biggest piece of unfinished business left over from the 2020 regular session, which ended in May. It cleared the Minnesota House and Senate last week.

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“This historic bonding bill includes investments that will help build stronger, safer, and more equitable communities across the state,” said Lieutenant Governor Peggy Flanagan. “When we listen to, partner with, and invest in communities, we get better results. I’m grateful to the community leaders and legislative partners who worked with us to get this done, including $30 million dedicated to BIPOC communities.”