SF 2468

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to economic development; renaming Minnesota Technology, Inc. to
Enterprise Minnesota, Inc.; updating provisions; making technical changes;
amending Minnesota Statutes 2006, sections 116O.01; 116O.011; 116O.02,
subdivision 6; 116O.03, subdivisions 1a, 7; 116O.04, subdivisions 1, 2; 116O.05,
subdivisions 1, 2, 4; proposing coding for new law in Minnesota Statutes, chapter
116O; repealing Minnesota Statutes 2006, sections 116O.03, subdivision 11;
116O.06; 116O.07; 116O.071; 116O.072; 116O.08; 116O.09, subdivisions 1, 1a,
3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13; 116O.091, subdivisions 1, 4, 5, 6; 116O.10;
116O.11; 116O.12; 116O.122; 116O.13; Minnesota Statutes 2007 Supplement,
section 116O.09, subdivision 2.

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

Section 1.

Minnesota Statutes 2006, section 116O.01, is amended to read:

116O.01 CITATION.

Sections 116O.01 to may be cited as the " deleted text begin Minnesota Technology,
Inc. Act deleted text end new text begin Enterprise Minnesota, Inc. Act new text end ."

Sec. 2.

Minnesota Statutes 2006, section 116O.011, is amended to read:

116O.011 NAME CHANGE.

deleted text begin The Greater Minnesota Corporation is renamed deleted text end Minnesota Technology, Inc. new text begin ,
formerly known as the Greater Minnesota Corporation, is renamed Enterprise Minnesota,
Inc.
new text end

Sec. 3.

Minnesota Statutes 2006, section 116O.02, subdivision 6, is amended to read:

Subd. 6.

Technology-related assistance.

"Technology-related assistance" means
the deleted text begin transfer deleted text end new text begin application and utilization new text end of technological information and technologies to
assist in the development and production of new technology-related products or services
or to increase the productivity or otherwise enhance the production or delivery of existing
products or services. "Technology-related assistance" includes assistance in utilizing and
developing processes and products that conserve energy.

Sec. 4.

Minnesota Statutes 2006, section 116O.03, subdivision 1a, is amended to read:

Subd. 1a.

Purpose.

The purpose of the corporation is to foster long-term
economic growth and job creation by stimulating innovation and the development of new
products, services, and production processes through energy conservation, technology
deleted text begin transfer, applied research deleted text end new text begin application and utilization new text end , and financial assistance. The
corporation's purpose is not to create new programs or services but to build on the existing
educational, business, and economic development infrastructure. The primary focus of
the corporation's activities must be to benefit new or existing small and medium-sized
businesses in greater Minnesota.

Sec. 5.

Minnesota Statutes 2006, section 116O.03, subdivision 7, is amended to read:

Subd. 7.

Application and investigative data.

The following data is classified as
private data with regard to data on individuals under section 13.02, subdivision 12, or as
nonpublic data with regard to data not on individuals under section 13.02, subdivision 9,
whichever is applicable:

(1) financial data, statistics, and information furnished in connection with assistance
or proposed assistance under section deleted text begin 116O.06 deleted text end new text begin 116O.061 new text end , including credit reports, financial
statements, statements of net worth, income tax returns, either personal or corporate, and
any other business and personal financial records; or

(2) security information, trade secret information, or labor relations information, as
defined in section 13.37, subdivision 1, disclosed to members of the corporation board or
employees of the corporation under section deleted text begin 116O.06 deleted text end new text begin 116O.061 new text end .

Sec. 6.

Minnesota Statutes 2006, section 116O.04, subdivision 1, is amended to read:

Subdivision 1.

Generally.

The board shall appoint and set the compensation for
a president, who serves as chief executive officer of the corporation, and who may
appoint subordinate officers. deleted text begin The president's salary may not exceed 95 percent of the
governor's salary. deleted text end The board may designate the president as its general agent. Subject to
the control of the board, the president shall employ employees, consultants, and agents the
president considers necessary. The staff of the corporation must include individuals new text begin with
operational experience and new text end knowledgeable in commercial and industrial financing, energy
conservation, research and development, economic development, and general fiscal affairs.
The board shall define the duties and designate the titles of the employees and agents.

Sec. 7.

Minnesota Statutes 2006, section 116O.04, subdivision 2, is amended to read:

Subd. 2.

Status of employees.

deleted text begin (a) deleted text end Employees, officers, and directors of the
corporation and programs governed by this chapter are not state employees, but are
covered by section 3.736 and, at the option of the board, may participate in the state
retirement plan and the state deferred compensation plan for employees in the unclassified
service and an insurance plan administered by the commissioner of employee relations.

deleted text begin (b) The board of Minnesota Project Innovation, Inc., may extend the health care
insurance benefits and coverage referenced in paragraph (a) to all of its employees.
deleted text end

Sec. 8.

Minnesota Statutes 2006, section 116O.05, subdivision 1, is amended to read:

Subdivision 1.

General corporate powers.

(a) The corporation has the powers
granted to a business corporation by section 302A.161, subdivisions 3; 4; 5; 7; 8; 9; 11;
12; 13, except that the corporation may not act as a general partner in any partnership; 14;
15; 16; 17; 18; and 22.

(b) The state is not liable for the obligations of the corporation.

(c) Section 302A.041 applies to this chapter and the corporation in the same manner
that it applies to business corporations established under chapter 302A.

deleted text begin (d) The corporation is a state agency for the purposes of the following accounting
and budgeting requirements:
deleted text end

deleted text begin (1) financial reports and other requirements under section 16A.06;
deleted text end

deleted text begin (2) the state budget system under sections 16A.095, 16A.10, and 16A.11;
deleted text end

deleted text begin (3) the state allotment and encumbrance, and accounting systems under sections
16A.14, subdivisions 2, 3, 4, and 5; and 16A.15, subdivisions 2 and 3; and
deleted text end

deleted text begin (4) indirect costs under section 16A.127.
deleted text end

Sec. 9.

Minnesota Statutes 2006, section 116O.05, subdivision 2, is amended to read:

Subd. 2.

Duties.

(a) The primary duties of the corporation shall include:

(1) deleted text begin applied research deleted text end new text begin development of new products and processes for operational
efficiency and excellence, enabling company growth new text end ; and

(2) deleted text begin technology transfer and early stage funding to small manufacturers deleted text end new text begin business
development services with technology utilization and application, primarily for small
and medium-sized manufacturers new text end .

(b) The corporation shall also:

(1) deleted text begin establish programs, activities, and policies that provide technology transfer
and applied research and development assistance to individuals, sole proprietorships,
partnerships, corporations, other business entities, and nonprofit organizations in the
state that are primarily new and existing small and medium-sized businesses in greater
Minnesota;
deleted text end

deleted text begin (2) deleted text end provide or provide for technology-related assistance to individuals, sole
proprietorships, partnerships, corporations, other business entities, and nonprofit
organizations; new text begin and
new text end

deleted text begin (3) provide financial assistance under section 116O.06 to assist the development of
new products, services, or production processes, to assist in energy conservation, or to
assist in bringing new products or services to the marketplace;
deleted text end

deleted text begin (4) provide or provide for research services including on-site research and testing of
production techniques and product quality;
deleted text end

deleted text begin (5) establish and operate regional research institutes as provided for in section
116O.08;
deleted text end

deleted text begin (6) make matching research grants for applied research and development to public
and private postsecondary education institutes as provided for in section 116O.11;
deleted text end

deleted text begin (7) enter into contracts for establishing formal relationships with public or private
research institutes or facilities;
deleted text end

deleted text begin (8) establish the Agricultural Utilization Research Institute under section 116O.09;
and
deleted text end

deleted text begin (9) deleted text end new text begin (2) new text end not duplicate existing services or activities provided by other public and
private organizations but shall build on the existing educational, business, and economic
development infrastructure.

Sec. 10.

Minnesota Statutes 2006, section 116O.05, subdivision 4, is amended to read:

Subd. 4.

Supporting organizations.

On making a determination that the public
policies and purposes of this chapter will be carried out to a greater extent than what
might otherwise occur, the board may cause to be created and may delegate, assign, or
transfer to one or more entities, including without limitation a corporation, nonprofit
corporation, limited liability company, partnership, or limited partnership, any or all rights
and duties, assets and liabilities, powers or authority created, authorized, or allowed under
this chapter, deleted text begin including without limitation those pertaining to the seed capital fund under
section 116O.122, deleted text end except to the extent specifically limited by the Constitution or by law.

Sec. 11.

new text begin [116O.061] FINANCIAL ASSISTANCE.
new text end

new text begin (a) Financial assistance may be provided to sole proprietorships, corporations, other
entities, or nonprofit organizations. Financial assistance includes, but is not limited to,
assisting a qualified company or organization with business services and products that
will enhance the operations of the entity.
new text end

new text begin (b) Preference and priority will be given to business entities that are expanding their
operations in Minnesota. Priority will be assigned to:
new text end

new text begin (1) projects whose return, in economic benefits, are most substantial and clear;
new text end

new text begin (2) projects whose outcomes are best accelerated through internal resources of
the corporation; and
new text end

new text begin (3) companies and organizations not typically able to leverage external assistance.
new text end

new text begin (c) The corporation may enter into agreements with, or solicit grants from, other
organizations to jointly promote:
new text end

new text begin (1) business improvements;
new text end

new text begin (2) the application of technology, energy conservation, new product development,
and other initiatives leading to economic development; and
new text end

new text begin (3) job creation.
new text end

Sec. 12. new text begin REPEALER.
new text end

new text begin Minnesota Statutes 2006, sections 116O.03, subdivision 11; 116O.06; 116O.07;
116O.071; 116O.072; 116O.08; 116O.09, subdivisions 1, 1a, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12,
and 13; 116O.091, subdivisions 1, 4, 5, and 6; 116O.10; 116O.11; 116O.12; 116O.122;
and 116O.13; new text end new text begin and new text end new text begin Minnesota Statutes 2007 Supplement, section 116O.09, subdivision
2, new text end new text begin are repealed.
new text end

Sec. 13. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 to 12 are effective the day following final enactment.
new text end