HF 2034

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to economic development; appropriating money
for the Riverbend Center for Entrepreneurial
Facilitation.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $17,500 in fiscal year 2006 and $17,500 in fiscal year 2007
are appropriated from the general fund to the commissioner of
employment and economic development for grants to the Riverbend
Center for Entrepreneurial Facilitation in Blue Earth County.
The grants must be used to continue a program to assist in the
development of entrepreneurs and small businesses. The grants
must be provided on the condition that the funds be matched on a
one-to-one basis from nonstate sources. Any balance in the
first year does not cancel but is available in the second year.
new text end

Sec. 2. new text begin REPORTING.
new text end

new text begin Grant recipients must report to the commissioner by
February 1 in each of the two years after the year of receipt of
the grant. The report must detail the number of customers
served; the number of businesses started, stabilized, or
expanded; the number of jobs created and retained; and business
success rates. The commissioner shall report to the legislature
on the program's assistance to entrepreneurs and small
businesses. The report shall contain an evaluation of the
results.
new text end