SF 2047

as introduced - 90th Legislature (2017 - 2018) Posted on 03/14/2017 09:52am

A bill for an act
relating to economic development; appropriating money for entrepreneurial
development; requiring a report.

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

Section 1. new text begin ASSISTANCE TO ENTREPRENEURS; APPROPRIATION.
new text end

new text begin (a) $360,000 in fiscal year 2018 and $360,000 in fiscal year 2019 are appropriated from
the general fund to the commissioner of employment and economic development for a grant
to the Small Business Development Center hosted at Minnesota State University, Mankato,
for a collaborative initiative with the Regional Center for Entrepreneurial Facilitation. Funds
available under this section must be used to provide entrepreneur and small business
development direct professional business assistance services in the following counties in
Minnesota: Blue Earth, Brown, Faribault, Le Sueur, Martin, Nicollet, Sibley, Watonwan,
and Waseca. For the purposes of this section, "direct professional business assistance
services" must include, but is not limited to, pre-venture assistance for individuals considering
starting a business. This appropriation is not available until the commissioner determines
that an equal amount is committed from nonstate sources. Any balance in the first year does
not cancel and is available for expenditure in the second year.
new text end

new text begin (b) Grant recipients shall report to the commissioner by February 1 of each year and
include information on the number of customers served in each county; the number of
businesses started, stabilized, or expanded; the number of jobs created and retained; and
business success rates in each county. By April 1 of each year, the commissioner shall report
the information submitted by grant recipients to the chairs of the standing committees of
the house of representatives and the senate having jurisdiction over economic development
issues.
new text end