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Minnesota Legislature

Office of the Revisor of Statutes

SF 1303

1st Engrossment - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - 1st Engrossment

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A bill for an act
relating to economic development; establishing nanotechnology development
fund program; requiring a report; appropriating money.

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

Section 1.

new text begin NANOTECHNOLOGY DEVELOPMENT FUND.
new text end

new text begin Subdivision 1. new text end

new text begin Nanotechnology development fund created. new text end

new text begin The nanotechnology
development fund (NDF) is created in the state treasury. Money in the fund is appropriated
to the commissioner of employment and economic development for the purposes of this
section.
new text end

new text begin Subd. 2. new text end

new text begin Program established; purpose. new text end

new text begin The nanotechnology development
fund program is established to develop a collaborative economic development initiative
between the state of Minnesota, the private sector, and multiple academic institutions
to promote by small businesses an increased use of advanced nanoinstrumentation for
characterization, fabrication, and other related processes; provide research consulting
by knowledgeable specialists; and provide student internship opportunities to increase
nanotechnology experience by working with small, medium, or large Minnesota
companies. The NDF program shall be administered by the Department of Employment
and Economic Development and is not a state agency.
new text end

new text begin Subd. 3. new text end

new text begin Definition; qualifying Minnesota small business. new text end

new text begin "Qualifying Minnesota
small business" means:
new text end

new text begin (1) a Minnesota small business corporation, sole proprietorship, or partnership that
has fewer than 50 employees; or
new text end

new text begin (2) a Minnesota business corporation, sole proprietorship, or partnership that:
new text end

new text begin (i) has 51 to 100 employees; and
new text end

new text begin (ii) demonstrates current financial adversity or risk or a major prospect of aiding
the business's long-term outlook by significant use of nanotechnology in the business's
offerings.
new text end

new text begin Subd. 4. new text end

new text begin Use of fund; grants. new text end

new text begin The commissioner shall extend onetime matching
grants from the NDF to qualifying Minnesota small businesses located throughout the
state to:
new text end

new text begin (1) add nanotechnology applications to products that are being developed by
Minnesota small businesses to enhance distinctiveness;
new text end

new text begin (2) promote the depth, breadth, and value of technologies being developed by
Minnesota businesses with the aid of nanotechnology;
new text end

new text begin (3) encourage more frequent use of nanoinstrumentation to speed businesses' product
time-to-market, with higher incidence of distinct product characteristics;
new text end

new text begin (4) provide Minnesota small businesses with broader access to experienced research
consultants; and
new text end

new text begin (5) increase the number of researchers experienced in working with
nanoinstrumentation.
new text end

new text begin Subd. 5. new text end

new text begin Grant application and award procedure. new text end

new text begin (a) The commissioner may
give priority to applicants:
new text end

new text begin (1) whose intellectual property would benefit from utilization of nanoinstrumentation
not possessed in-house;
new text end

new text begin (2) who are currently utilizing nanoinstrumentation either at the University of
Minnesota or a private sector location on a leased, hourly basis; and
new text end

new text begin (3) who wish to increase their access to experienced research consultants.
new text end

new text begin (b) The commissioner shall decide whether to award a grant to an eligible applicant
based on:
new text end

new text begin (1) the applicant's planned frequency of usage of nanoinstrumentation for
characterization, fabrication, and other related processes; and
new text end

new text begin (2) the applicant's demonstration of rental of nanoinstrumentation, in the form
of a signed affidavit from a certified facility to confirm the one-to-one private sector
investment has been met.
new text end

new text begin (c) A grant made under this section must:
new text end

new text begin (1) include verification of matching rental fees or internship stipends paid by the
grantee; and
new text end

new text begin (2) be for a total amount paid to each grantee of not less than $500 nor more than
$20,000 within the biennium.
new text end

new text begin Subd. 6. new text end

new text begin Administration. new text end

new text begin The commissioner of employment and economic
development must develop and maintain a record-keeping system that specifies how
funds from the NDF are applied for and distributed. Businesses receiving grants
from the NDF must provide contact information, the date and time of the use of the
nanoinstrumentation, proof of their matching contribution to meet the rental costs or
provide an internship's stipend, and a general statement of the expected outcome from
the use of the nanoinstrumentation, to the extent documentation can be made without
divulging proprietary information.
new text end

new text begin Subd. 7. new text end

new text begin Gifts and donations. new text end

new text begin Gifts and donations, including land or interests
in land, may be made to NDF. Noncash gifts and donations must be disposed of for
cash as soon as the commissioner of employment and economic development can
prudently maximize the value of the gift or donation. All funds must be credited to the
nanotechnology development fund. All interest earned by the fund must be credited to
the NDF.
new text end

new text begin Subd. 8. new text end

new text begin Report to legislature. new text end

new text begin By June 30 of each odd-numbered year, the
commissioner of employment and economic development must submit a report to the
legislature with statistics about the use of the NDF.
new text end

Sec. 2. new text beginAPPROPRIATION.
new text end

new text begin (a) $100,000 in fiscal year 2008 and $100,000 in fiscal year 2009 are appropriated
from the general fund to the commissioner of employment and economic development to
coordinate and promote the nanotechnology development fund.
new text end

new text begin (b) $225,000 in fiscal year 2008 and $225,000 in fiscal year 2009 are appropriated
from the general fund to the commissioner of employment and economic development for
purposes of the nanotechnology development fund (NDF) established in section 1, for
grants to promote increased use of advanced instrumentation for nanomaterials analysis,
to be awarded on a one-to-one matching basis to qualifying Minnesota small businesses.
new text end

new text begin (c) $112,500 in fiscal year 2008 and $112,500 in fiscal year 2009 are appropriated
from the general fund to the commissioner of employment and economic development for
distribution through the nanotechnology development fund to provide Minnesota small
businesses access to experienced research consultants on a one-to-one matching basis.
new text end

new text begin (d) $80,000 in fiscal year 2008 and $80,000 in fiscal year 2009 are appropriated
from the general fund to the commissioner of employment and economic development for
payment of student internship stipends to increase the number of researchers experienced
in working with existing nanotechnology applications. Money for stipends is available
only upon verification of a one-to-one private sector match.
new text end