SF 2907

1st Engrossment - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to economic development; requiring annual reports to the legislature on
certain business accounts; amending Minnesota Statutes 2004, section 116J.431,
by adding a subdivision; Minnesota Statutes 2005 Supplement, section 116J.575,
by adding a subdivision.

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

Section 1.

Minnesota Statutes 2004, section 116J.431, is amended by adding a
subdivision to read:

new text begin Subd. 9. new text end

new text begin Annual report. new text end

new text begin The commissioner shall prepare and submit to the
legislature an annual report on the greater Minnesota business infrastructure account.
The report shall include information on the amount of funds remaining in the account,
the amount distributed, to whom the funds were awarded, and a brief description of the
purpose of the project funded. The report must also include information on the proposed
and actual number of jobs created and the average wage and benefits paid for the jobs
created.
new text end

Sec. 2.

Minnesota Statutes 2005 Supplement, section 116J.575, is amended by adding
a subdivision to read:

new text begin Subd. 4. new text end

new text begin Annual report. new text end

new text begin The commissioner shall prepare and submit to the
legislature an annual report on the redevelopment accounts. The report must include
information on the amount of money in the accounts, the amount distributed, to whom
the grants were distributed and for what purposes, and an evaluation of the effectiveness
of the projects funded in meeting the policies and goals of the program, including jobs
created and wages and benefits paid.
new text end