Gov. Mark Dayton has said he would sign the bill that passed the House at 4 a.m. Thursday 71-60 and then cleared the Senate by a 36-30 vote.
The stadium for the Minnesota Vikings will cost $975 million and appeared unlikely to become a reality until the team recently agreed to take on a larger portion of the cost.
The Vikings originally agreed to contribute $427 million to the project, but their final cost climbed to $477 million. The city of Minneapolis has committed $150 million for the stadium and the state will pay $348 million.
Sen. Julie Rosen, who sponsored the bill, celebrated along with fans in the Senate gallery who came dressed as they would for a football game.
"We delivered," Rosen said. "We are going to have a first-class stadium we can all be very, very proud of."
Although the Minneapolis City Council must still approve its share of the costs, a majority of the council members have said they would vote in favor.
The Vikings, founded in 1961, have played in the Hubert H. Humphrey Metrodome since 1982. The new stadium will be built on the site of the Metrodome, where the Vikings will play this season.
The team will play at the University of Minnesota while the new stadium is being constructed.