SF 2098

as introduced - 91st Legislature (2019 - 2020) Posted on 03/07/2019 04:30pm

A bill for an act
relating to economic development; appropriating money for the Minnesota
investment fund, job creation fund, and redevelopment program.

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

Section 1. new text begin APPROPRIATION; MINNESOTA INVESTMENT FUND.
new text end

new text begin $12,500,000 in fiscal year 2020 and $12,500,000 in fiscal year 2021 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 this amount,
the commissioner may use up to three percent for administrative expenses. This appropriation
is available until June 30, 2023.
new text end

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

new text begin $8,000,000 in fiscal year 2020 and $8,000,000 in fiscal year 2021 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 this amount,
the commissioner may use up to three percent for administrative expenses. This appropriation
is available until June 30, 2023.
new text end

Sec. 3. new text begin APPROPRIATION; REDEVELOPMENT PROGRAM.
new text end

new text begin $6,000,000 in fiscal year 2020 and $6,000,000 in fiscal year 2021 are appropriated from
the general fund to the commissioner of employment and economic development for the
redevelopment grant and demolition loan programs under Minnesota Statutes, sections
116J.575 and 116J.5761. This is a onetime appropriation.
new text end