Skip to main content Skip to office menu Skip to footer
Capital IconMinnesota Legislature

SF 2730

as introduced - 89th Legislature (2015 - 2016) Posted on 04/08/2016 08:36am

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

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4
1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18 1.19 1.20 1.21 1.22 1.23 1.24 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9

A bill for an act
relating to economic development; modifying small business development center
services; appropriating money.

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

Section 1. new text begin SMALL BUSINESS DEVELOPMENT CENTER SERVICES;
APPROPRIATION.
new text end

new text begin (a) $500,000 in fiscal year 2017 is appropriated from the general fund to the
commissioner of employment and economic development for small business development
center (SBDC) services to support business transition planning. For purposes of this
section, business transition planning includes, but is not limited to:
new text end

new text begin (1) succession planning for next generation proprietors. For purposes of this clause,
next generation proprietors do not include immediate family members of the current
business owner;
new text end

new text begin (2) matching business owners seeking to sell existing businesses with aspiring
business owners. Matching services under this clause may be targeted to small businesses
located in economically disadvantaged communities or areas of declining population. For
purposes of this clause, "economically disadvantaged communities" means communities
in which average household income is less than 80 percent of statewide median household
income as measured by the United States Census Bureau; or communities that contain
two or more contiguous census tracts in which average household income is less than 80
percent of the statewide median household income as measured by the United States
Census Bureau; and
new text end

new text begin (3) providing information and counseling services to business owners, prospective
owners, and others regarding the importance of business transition and succession
planning, the transition and succession process, and financing options and requirements
related to the business transition and succession process.
new text end

new text begin (b) Funds available under this section may be used to:
new text end

new text begin (1) provide the necessary information and services under paragraph (a);
new text end

new text begin (2) build small business development center staff capacity to provide business
transition and succession planning services; and
new text end

new text begin (3) match funds under the federal Small Business Development Center Program
under United States Code, title 15, section 648, and other federal, state, or local funds
available for the purposes of this section.
new text end