Minnesota Education Investment and Employment Act

Minnesota Education Investment and Employment Act - Directs the Secretary of Agriculture (USDA) to complete a land exchange involving National Forest System land in Minnesota and Minnesota state lands.

Requires the exchange to be consummated pursuant to specified Minnesota law. Makes Minnesota responsible for the costs of the survey and all other administrative costs related to the land exchange.

Adds the lands acquired by the Secretary to the Boundary Waters Canoe Area Wilderness and modifies the boundaries of such Wilderness to reflect their inclusion.

Prohibits the acquisition, and inclusion, of land by the United States in the Boundary Waters Canoe Area Wilderness from altering or affecting current fishing and hunting rights.

Deems the lands acquired by Minnesota to be state trust lands and to be held in trust for the benefit of its public school system. Expresses the sense of Congress that, whenever the land acquired by Minnesota is not being used for revenue-gathering activities, it should make such land available for other compatible uses, including hunting, fishing, hiking, biking, snowmobiling, and trail riding.

Instructs the Secretary to modify the boundaries of Superior National Forest to reflect the land exchange under this Act.

States that the land exchange under this Act shall not be considered to be a major federal action.

Prohibits the Secretary from taking into consideration the lands acquired by the United States in determining the appraisal value of System lands in Minnesota used for the purposes of making payments to Minnesota under the Thye-Blatnik Act and Humphrey-Thye-Blatnik-Andreson Act.

Requires the Secretary to report to Congress, if the Secretary fails to complete the land exchange within the 18-month period following enactment of this Act.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov