SF 2850

as introduced - 88th Legislature (2013 - 2014) Posted on 04/04/2014 08:53am

A bill for an act
relating to economic development; mandating a study and report on North
Dakota oil production and economic impacts in Minnesota; appropriating money.

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

Section 1. new text begin STUDY OF NORTH DAKOTA OIL PRODUCTION; IMPACT ON
MINNESOTA.
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new text begin (a) $150,000 in fiscal year 2014 is appropriated from the general fund to the
commissioner of employment and economic development, in consultation with the
commissioner of revenue, to finance a study and analysis of the effects of current and
projected oil production in North Dakota on the Minnesota economy with special focus on
the northwestern region of Minnesota and area border cities as provided in paragraph (b).
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new text begin (b) The study and analysis must address:
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new text begin (1) current and projected economic, fiscal, and demographic effects and issues;
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new text begin (2) direct and indirect costs and benefits;
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new text begin (3) positive and negative effects; and
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new text begin (4) economic challenges and opportunities for economic growth or diversification.
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new text begin (c) The study must be objective, evidence-based, and designed to produce empirical
data. Study data must be utilized to formulate policy recommendations on how the state,
the northwestern region of the state, and border cities may respond to the challenges and
opportunities for economic growth and financial investment that may be derived from the
regional economic changes that are the result of oil production in North Dakota.
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new text begin (d) For the purposes of this section, "border cities" has the meaning given in
Minnesota Statutes, section 469.1731.
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new text begin (e) The study and analysis must be conducted by an independent entity with
demonstrated knowledge in the following areas:
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new text begin (1) the economy and demography of Minnesota;
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new text begin (2) the domestic and foreign oil industry; and
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new text begin (3) technologies, markets, and geopolitical factors that have an impact on current
and future oil production in the region.
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new text begin (f) The commissioner shall report on the findings and recommendations of the study
to the committees of the house of representatives and senate having jurisdiction over
economic development and workforce issues by February 15, 2015.
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new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
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