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HF 819

as introduced - 92nd Legislature (2021 - 2022) Posted on 02/08/2021 02:09pm

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
relating to economic development; appropriating money for redevelopment grants
and demolition loans, the Minnesota investment fund, and the job creation fund.

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

Section 1. new text beginREDEVELOPMENT GRANTS AND DEMOLITION LOANS;
APPROPRIATION.
new text end

new text begin $8,000,000 in fiscal year 2022 and $8,000,000 in fiscal year 2023 are appropriated from
the general fund to the commissioner of employment and economic development for
redevelopment grants under Minnesota Statutes, section 116J.575, and demolition loans
under Minnesota Statutes, section 116J.5761.
new text end

Sec. 2. new text beginMINNESOTA JOB CREATION FUND; APPROPRIATION.
new text end

new text begin $8,000,000 in fiscal year 2022 and $8,000,000 in fiscal year 2023 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 these amounts,
up to 3.5 percent is for administrative expenses, of which up to $50,000 each year is for
outreach and technical assistance for businesses where at least 51 percent of the business
is cumulatively owned by minorities, veterans, women, or persons with a disability. This
appropriation is available until expended.
new text end

Sec. 3. new text beginMINNESOTA INVESTMENT FUND; APPROPRIATION.
new text end

new text begin $12,370,000 in fiscal year 2022 and $12,370,000 in fiscal year 2023 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 these
amounts, up to 3.5 percent is for administrative expenses, of which up to $50,000 each year
is for outreach and technical assistance for businesses where at least 51 percent of the
business is cumulatively owned by minorities, veterans, women, or persons with a disability.
This appropriation is available until expended. Notwithstanding Minnesota Statutes, section
116J.8731, funds appropriated to the commissioner for the Minnesota investment fund may
be used for the redevelopment program under Minnesota Statutes, sections 116J.575 and
116J.5761, at the discretion of the commissioner. Grants under this section are not subject
to the grant amount limitation under Minnesota Statutes, section 116J.8731.
new text end