SF 4851
Introduction - 94th Legislature (2025 - 2026)
Posted on 03/26/2026 09:28 a.m.
1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15
A bill for an act
relating to economic development; appropriating money for a nanoparticle iron
nitride permanent magnet manufacturing facility.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1. new text begin APPROPRIATION; NANOPARTICLE IRON NITRIDE PERMANENT
MAGNET MANUFACTURING FACILITY.
new text end
new text begin
$50,000,000 in fiscal year 2027 is appropriated from the Minnesota forward fund account
to the commissioner of employment and economic development to match existing federal
funding made available by the Consolidated Appropriations Act of 2026, Public Law 119-75.
This appropriation must be used to construct and operate a nanoparticle iron nitride permanent
magnet manufacturing facility. This appropriation is not subject to the requirements of
Minnesota Statutes, section 116J.8752, subdivision 5. The commissioner may use up to two
percent of this appropriation for administration. This is a onetime appropriation and is
available until June 30, 2030. Any money that remains unspent is canceled to the general
fund.
new text end