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The council shall develop an overall restoration plan for the governor's residence and surrounding grounds and approve alterations in the existing structure. To maintain and improve the quality of furnishings for the public areas of the building, the council may solicit and accept donated money, furnishings, objects of art and other items the council determines may have historical value in keeping with the building's period and purpose. The commissioner of administration shall maintain the governor's residence in the same way as other state buildings are maintained and shall rehabilitate, decorate, and furnish the building. The decoration and furnishing shall be guided by the Governor's Residence Council.

First established by the Legislature in 1980 as the Ceremonial Building Council, the group's name changed to the Governor's Residence Council in 1983.

The Governor's Residence Council was reviewed by the Legislative Commission on Planning and Fiscal Policy (LCPFP) in 2013 as part of their biennial duty required by Minn. Stat. 3.885 Subd. 11. The LCPFP's 2013 Recommendations called for keeping the council.

The council consists of the following 19 members: the commissioner; the spouse or a designee of the governor; the executive director of the Minnesota State Arts Board; the director of the Minnesota Historical Society; a member of the senate appointed pursuant to the rules of the senate; a member of the house of representatives appointed pursuant to the rules of the house of representatives; 13 persons appointed by the governor including one in the field of higher education, one member of the American Society of Interior Designers, Minnesota Chapter, one member of the American Institute of Architects, Minnesota chapter, one member of the American Society of Landscape Architects, Minnesota Chapter, one member of the family that donated the governor's residence to the state, if available, and eight public members with four public members' terms being coterminous with the governor who appoints them.

Members of the council serve without compensation. Membership terms, removal, and filling of vacancies for members appointed by the governor are governed by Minn. Stat. 15.0575. The council shall elect a chair and a secretary from among its members.