as introduced - 90th Legislature (2017 - 2018) Posted on 03/19/2018 03:01pm
A bill for an act
relating to economic development; modifying restrictions on local government
loan repayment funds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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Notwithstanding Minnesota Statutes, section 116J.8731, and any law to the contrary, a
home rule charter or statutory city, county, or town may, before July 1, 2018, commit money
received from the repayment of funds awarded under Minnesota Statutes, section 116J.8731,
to a business revolving loan fund partially funded by the federal government. Once
committed, funds may be used for any purpose allowed by the federal program.
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This section is effective retroactively from January 1, 2007.
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