HF 1328

as introduced - 90th Legislature (2017 - 2018) Posted on 03/23/2017 04:34pm

A bill for an act
relating to appropriations; providing funds for a financial services inclusion
program.

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

Section 1. new text begin APPROPRIATIONS; FINANCIAL SERVICES INCLUSION PROGRAM.
new text end

new text begin $500,000 is appropriated in fiscal year 2018 and $250,000 is appropriated in fiscal year
2019 to the commissioner of commerce for a grant to Prepare and Prosper for purposes of
developing, marketing, evaluating, and distributing a financial services inclusion program
that will assist low-income and financially underserved populations build savings, strengthen
credit, and provide services to assist them in being more financially stable and secure. The
fiscal year 2018 appropriation must be matched by a nonstate contribution. The base for
fiscal year 2019 and later is $250,000. Money remaining after the first year is available for
the second year.
new text end