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Minnesota Legislature

Office of the Revisor of Statutes

HF 1626

as introduced - 90th Legislature (2017 - 2018) Posted on 02/23/2017 01:27pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to economic development; appropriating money for the Minnesota
investment fund; appropriating money for the job creation fund.

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

Section 1. new text beginMINNESOTA INVESTMENT FUND; APPROPRIATION.
new text end

new text begin $15,000,000 in fiscal year 2018 and $15,000,000 in fiscal year 2019 are appropriated
from the general fund to the commissioner of employment and economic development for
the Minnesota investment fund under Minnesota Statutes, section 116J.8731. Of this amount,
the commissioner of employment and economic development may use up to three percent
for administrative expenses. This appropriation is available until June 30, 2021. The base
amount for fiscal year 2020 and thereafter is $11,000,000.
new text end

Sec. 2. new text beginJOB CREATION FUND; APPROPRIATION.
new text end

new text begin $12,500,000 in fiscal year 2018 and $12,500,000 in fiscal year 2019 are appropriated
from the general fund to the commissioner of employment and economic development for
the Minnesota job creation fund under Minnesota Statutes, section 116J.8748. Of this
amount, the commissioner of employment and economic development may use up to three
percent for administrative expenses. This appropriation is available until June 30, 2021.
The base amount for fiscal year 2018 and thereafter is $6,500,000.
new text end