SF 787

as introduced - 89th Legislature (2015 - 2016) Posted on 02/13/2015 09:10am

A bill for an act
relating to economic development; appropriating money for entrepreneurial
development; requiring reports.

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

Section 1. new text begin ASSISTANCE TO ENTREPRENEURS; APPROPRIATION.
new text end

new text begin (a) $360,000 in fiscal year 2016 and $360,000 in fiscal year 2017 are appropriated
from the general fund to the commissioner of employment and economic development for
a grant to the small business development center hosted at Minnesota State University,
Mankato, for a collaborative initiative with the Regional Center for Entrepreneurial
Facilitation. Funds available under this section must be used to provide entrepreneur
and small business development direct professional business assistance services in the
following counties in Minnesota: Blue Earth, Brown, Faribault, Le Sueur, Martin, Nicollet,
Sibley, Watonwan, and Waseca. For the purposes of this section, "direct professional
business assistance services" must include, but is not limited to pre-venture assistance for
individuals considering starting a business. This appropriation is not available until the
commissioner determines that an equal amount is committed from nonstate sources. Any
balance in the first year does not cancel and is available for expenditure in the second year.
new text end

new text begin (b) Grant recipients shall report to the commissioner by February 1 of each year and
include information on the number of customers served in each county; the number of
businesses started, stabilized, or expanded; the number of jobs created and retained;
and business success rates in each county. By April 1 of each year, the commissioner
shall report the information submitted by grant recipients to the chairs of the standing
committees of the house of representatives and the senate having jurisdiction over
economic development issues.
new text end