HF 1790

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to economic development; providing for a 
  1.3             challenge grant for construction of a steel mill; 
  1.4             appropriating money. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [APPROPRIATION.] 
  1.7      $60,000,000 is appropriated from the general fund to the 
  1.8   commissioner of trade and economic development for a grant for 
  1.9   construction of a steel mill.  The grant requires a matching 
  1.10  amount in gross payroll at the steel mill by the fourth year of 
  1.11  its operation.  If the gross payroll at the steel mill is less 
  1.12  than $60,000,000 by the fourth year of its operation, the 
  1.13  difference must be returned by the grantee.