1.1 	A bill for an act
1.2 	relating to economic development; temporarily modifying the restrictions on use 
1.3 	of Minnesota investment fund local government loan repayment funds.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. ONETIME EXCEPTION TO RESTRICTIONS ON USE OF MINNESOTA 
1.6 	INVESTMENT FUND LOCAL GOVERNMENT LOAN REPAYMENT FUNDS.
 1.7 	Notwithstanding Minnesota Statutes, section 116J.8731, a home rule charter or statutory 
1.8 	city, county, or town that has uncommitted money received from repayment of funds awarded 
1.9 	under Minnesota Statutes, section 116J.8731, may choose to transfer 20 percent of the 
1.10 	balance of that money to the state general fund before June 30, 2018. Any local entity that 
1.11 	does so may then use the remaining 80 percent of the uncommitted money as a general 
1.12 	purpose aid for any lawful expenditure.