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SF 3738

as introduced - 90th Legislature (2017 - 2018) Posted on 03/23/2018 09:16am

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
 relating to economic development; appropriating money for a grant to African
Economic Development Solutions (AEDS).

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

Section 1. new text begin APPROPRIATION; AFRICAN ECONOMIC DEVELOPMENT
SOLUTIONS.
new text end

new text begin $2,000,000 in fiscal year 2019 is appropriated from the general fund to the commissioner
of employment and economic development for a grant to African Economic Development
Solutions (AEDS) for a revolving loan fund and technical assistance services to support
new and existing African immigrant entrepreneurs in order to address pervasive economic
inequities. This is onetime appropriation. Of this amount:
 new text end

new text begin (1) $1,500,000 is for a business revolving loan fund; and
 new text end

new text begin (2) $500,000 is for technical assistance including, but not limited to, business
development, entrepreneur training, business technical assistance, loan packing, and
community development services.
 new text end