SF 538

as introduced - 89th Legislature (2015 - 2016) Posted on 08/21/2015 10:06am

A bill for an act
relating to economic development; providing for capital improvements to small
business incubators; establishing a neighborhood development center small
business incubator revolving fund; appropriating money.

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

Section 1. new text begin NEIGHBORHOOD DEVELOPMENT CENTER APPROPRIATION.
new text end

new text begin $650,000 in fiscal year 2016 is appropriated from the general fund to the
commissioner of employment and economic development for grants to the Neighborhood
Development Center for the small business incubator program. Of this amount, $400,000
is for capital improvements to existing small business incubators, and $250,000 is for
the creation and operation of a small business incubator revolving fund to assist in the
acquisition and development of property for additional small business incubators. This is
a onetime appropriation.
new text end