Subd. 1. Commissioner.

The commissioner shall establish a program to award grants to taconite mining companies for:

1. (1) taconite pellet product improvements;
2. (2) value-added production of taconite iron ore; or
3. (3) cost-savings production improvements at Minnesota taconite plants. An amount equal to the sum of money transferred to the general fund under section 93.223, subdivision 1 , reduced by $100,000, is annually appropriated from the general fund to the commissioner for the purposes of this section.

Subd. 2. Coleraine laboratory.

The director of the Coleraine laboratory shall establish a program to award grants for the purpose of transferring technology from the Coleraine laboratory to taconite mining companies for:

1. (1) taconite pellet product improvements;
2. (2) value-added production of taconite iron ore; or
3. (3) cost-savings production improvements at Minnesota taconite plants. An amount equal to the sum of money transferred to the general fund under section 92.223, subdivision 2 , is annually appropriated from the general fund to the Board of Regents of the University of Minnesota for the purposes of this section.