1.1 	A bill for an act
1.2 	relating to economic development; requiring annual reports to the legislature on 
1.3 	certain business accounts;amending Minnesota Statutes 2004, section 116J.431, 
1.4 	by adding a subdivision; Minnesota Statutes 2005 Supplement, section 116J.575, 
1.5 	by adding a subdivision.
1.6 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.7 	Section 1. Minnesota Statutes 2004, section 116J.431, is amended by adding a 
1.8 	subdivision to read:
1.9 		Subd. 9.Annual report. The commissioner shall prepare and submit to the 
1.10 	legislature an annual report on the greater Minnesota business infrastructure account. 
1.11 	The report shall include information on the amount of funds remaining in the account, 
1.12 	the amount distributed, to whom the funds were awarded, and a brief description of the 
1.13 	purpose of the project funded. The report must also include information on the proposed 
1.14 	and actual number of jobs created and the average wage and benefits paid for the jobs 
1.15 	created.

1.16 	Sec. 2. Minnesota Statutes 2005 Supplement, section 116J.575, is amended by adding 
1.17 	a subdivision to read:
1.18 		Subd. 4.Annual report. The commissioner shall prepare and submit to the 
1.19 	legislature an annual report on the redevelopment accounts. The report must include 
1.20 	information on the amount of money in the accounts, the amount distributed, to whom 
1.21 	the grants were distributed and for what purposes, and an evaluation of the effectiveness 
1.22 	of the projects funded in meeting the policies and goals of the program, including jobs 
1.23 	created and wages and benefits paid.