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HF 2059

as introduced - 88th Legislature (2013 - 2014) Posted on 03/12/2014 12:39pm

KEY: stricken = removed, old language.
underscored = added, new language.
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Engrossments
Introduction Posted on 01/13/2014

Current Version - as introduced

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A bill for an act
 relating to capital investment; appropriating money for and modifying the
greater Minnesota business development public infrastructure grant program;
authorizing the sale and issuance of state bonds; amending Minnesota Statutes
2012, section 116J.431, subdivisions 2, 6.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2012, section 116J.431, subdivision 2, is amended to read:


Subd. 2.

Eligible projects.

new text begin (a) new text end An economic development project for which a
county or city may be eligible to receive a grant under this section includes:

(1) manufacturing;

(2) technology;

(3) warehousing and distribution;

(4) research and development;

(5) agricultural processing, defined as transforming, packaging, sorting, or grading
livestock or livestock products into goods that are used for intermediate or final
consumption, including goods for nonfood use; or

(6) industrial park development that would be used by any other business listed
in this subdivision.

new text begin (b) A county or city may be eligible to receive a grant under this section for new
public infrastructure, or to expand or replace part or all of an existing public infrastructure
system, that does not meet the needs of the economic development project because of the
public infrastructure's capacity or condition.
 new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
 new text end

Sec. 2.

Minnesota Statutes 2012, section 116J.431, subdivision 6, is amended to read:


Subd. 6.

Maximum grant amount.

A county or city may receive no more than
deleted text begin $1,000,000deleted text end new text begin $2,000,000new text end in two years for one or more projects.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
 new text end

Sec. 3. new text begin GREATER MINNESOTA BUSINESS DEVELOPMENT PUBLIC
INFRASTRUCTURE GRANT PROGRAM.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $25,000,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for the greater
Minnesota business development public infrastructure grant program under Minnesota
Statutes, section 116J.431.
 new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in this section from the
bond proceeds fund, the commissioner of management and budget shall sell and issue
bonds of the state in an amount up to $25,000,000 in the manner, upon the terms, and with
the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
Minnesota Constitution, article XI, sections 4 to 7.
 new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
 new text end