HF 2518

Introduction - 94th Legislature (2025 - 2026)

Posted on 03/26/2025 12:34 p.m.

A bill for an act
relating to economic development; appropriating money for a grant to
WomenVenture; requiring a report.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin (a) $8,000,000 in fiscal year 2026 is appropriated from the general fund to the
commissioner of employment and economic development for a grant to WomenVenture
to:
new text end

new text begin (1) support child care providers through business training and shared services programs
and to create materials that may be used, at no cost to child care providers, for start-up,
expansion, and operation of child care businesses statewide, with the goal of helping new
and existing child care businesses in underserved areas of the state become profitable and
sustainable; and
new text end

new text begin (2) support business expansion for women food entrepreneurs throughout Minnesota's
food supply chain to help stabilize and strengthen their business operations, create distribution
networks, offer technical assistance and support to women entrepreneurs in agribusiness,
develop business plans, develop a workforce, research expansion strategies, and for other
related activities.
new text end

new text begin (b) Eligible uses of the money include but are not limited to:
new text end

new text begin (1) leasehold improvements;
new text end

new text begin (2) additions, alterations, remodeling, or renovations to rented space;
new text end

new text begin (3) emergency grant funding for damage caused by natural disasters;
new text end

new text begin (4) inventory or supplies;
new text end

new text begin (5) machinery or equipment purchases;
new text end

new text begin (6) working capital; and
new text end

new text begin (7) debt refinancing.
new text end

new text begin (c) Money distributed to entrepreneurs may be loans, forgivable loans, and grants. Of
this amount, up to five percent may be used for WomenVenture's technical assistance and
administrative costs. This is a onetime appropriation and is available until June 30, 2028.
new text end

new text begin (d) By December 15, 2028, WomenVenture must submit a report to the chairs and
ranking minority members of the legislative committees with jurisdiction over agriculture
and employment and economic development. The report must include a summary of the
uses of the appropriation, including the amount of the appropriation used for administration.
The report must also provide a breakdown of the amount of funding used for loans, forgivable
loans, and grants; information about the terms of the loans issued; a discussion of how
money from repaid loans will be used; the number of entrepreneurs assisted; and a breakdown
of how many entrepreneurs received assistance in each county.
new text end