SF 4477

as introduced - 91st Legislature (2019 - 2020) Posted on 04/17/2020 07:51am

A bill for an act
relating to economic development; appropriating money for grants to small
businesses affected by the COVID-19 outbreak.

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

Section 1. SMALL BUSINESS RELIEF GRANTS; APPROPRIATION.

(a) $....... in fiscal year 2020 is appropriated from the federal funds received by the state
of Minnesota for coronavirus relief in the coronavirus relief fund under Public Law 116-136
to the commissioner of employment and economic development for grants under paragraph
(c). The appropriation in this paragraph is reduced by any amount appropriated in paragraph
(b). Funds are available until December 31, 2020.

(b) If the appropriation in paragraph (a) is unable to be made before May 1, 2020, then
$....... in fiscal year 2020 is appropriated from the workforce development fund to the
commissioner of employment and economic development for grants under paragraph (c).
Funds are available until December 31, 2020.

(c) The commissioner shall use money appropriated under paragraph (a) or (b) to make
grants to economic development organizations who shall make grants of up to $10,000 to
individual businesses that:

(1) are located in the state of Minnesota;

(2) employ the equivalent of 50 full-time workers or less; and

(3) can demonstrate financial hardship as a result of the COVID-19 outbreak.

Grant funds received by individual businesses shall be used for working capital, to support
payroll expenses, rent, mortgage payments, utility bills, and other similar expenses that
occur in the regular course of business.

EFFECTIVE DATE.

This section is effective the day following final enactment.