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SF 1085

as introduced - 93rd Legislature (2023 - 2024) Posted on 06/21/2023 09:45am

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
 relating to economic development; appropriating money to the Center for Economic
Inclusion.

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

Section 1. new text begin THE CENTER FOR ECONOMIC INCLUSION; APPROPRIATION.
new text end

new text begin $10,000,000 in fiscal year 2024 is appropriated from the general fund to the commissioner
of employment and economic development for a grant to the Center for Economic Inclusion
for strategic, data-informed investments in job creation strategies that respond to the needs
of underserved populations statewide. This may include pay-for-performance contracts with
nonprofit organizations to provide outreach, training, and support services for dislocated
and chronically underemployed people, as well as forgivable loans, revenue-based financing,
and equity investments for entrepreneurs with barriers to growth. Of this amount, up to ten
percent may be used for the center's technical assistance and administrative costs.
 new text end