1.1 	A bill for an act
1.2 	relating to transportation; providing for working capital loans to certain small 
1.3 	businesses to secure contracts with government agencies;amending Minnesota 
1.4 	Statutes 2010, section 161.3212.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. Minnesota Statutes 2010, section 161.3212, is amended to read:
1.7 	161.3212 WORKING CAPITAL FUND.
1.8 	The commissioner, to the extent allowed by other law or contract, may grant 
1.9 	available money that has been appropriated for socially or economically disadvantaged 
1.10 	business programs to a guaranty fund administered by a nonprofit organization that makes 
1.11 	or guarantees working capital loans to ~~businesses~~ small business concerns owned and 
1.12 	operated by socially ~~or~~ and economically disadvantaged ~~persons as defined~~ individuals. 
1.13 	"Small business concern" and "socially and economically disadvantaged individual" have 
1.14 	the meanings given them in Code of Federal Regulations, title 49, section ~~23.5~~ 26.5. The 
1.15 	purpose of loans made or guaranteed by the organization must be to provide short-term 
1.16 	working capital to enable eligible businesses to be awarded contracts for goods and 
1.17 	services or for construction-related services from government agencies.
1.18 	Money contributed from a constitutionally or statutorily dedicated fund must be used 
1.19 	only for purposes consistent with the purposes of the dedicated fund.