SF 4592
Introduction - 94th Legislature (2025 - 2026)
Posted on 03/24/2026 10:42 a.m.
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A bill for an act
relating to economic development; appropriating money for grants to Ignite
Businesswomen Investment Group Foundation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1. new text begin APPROPRIATIONS; IGNITE BUSINESSWOMEN INVESTMENT
GROUP FOUNDATION.
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(a) $1,400,000 in fiscal year 2027 is appropriated from the general fund to the
commissioner of employment and economic development for a grant to Ignite
Businesswomen Investment Group Foundation (IBWIG Foundation) to establish a women
entrepreneurs access to capital and business development fund. Money appropriated under
this paragraph may be used to provide working capital, capacity-building grants, and
low-interest loans. IBWIG Foundation must prioritize women entrepreneurs in underserved
and economically disadvantaged communities to conduct the activities under this paragraph.
This is a onetime appropriation.
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(b) $250,000 in fiscal year 2027 is appropriated from the general fund to the commissioner
of employment and economic development for a grant to IBWIG Foundation to provide
capacity building and business development support for women entrepreneurs. Money
appropriated under this paragraph must be used to provide:
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(1) business planning, leadership development, financial literacy, technology training,
and marketing support; and
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(2) grants to community-based organizations specializing in women-focused
entrepreneurship support. This is a onetime appropriation.
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