SF 824

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to economic development; establishing a 
  1.3             microenterprise support program; appropriating money; 
  1.4             proposing coding for new law in Minnesota Statutes, 
  1.5             chapter 116J. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [116J.991] [MICROENTERPRISE SUPPORT PROGRAM.] 
  1.8      (a) The commissioner of trade and economic development 
  1.9   shall establish and implement a microenterprise support 
  1.10  program.  Within the limits of the appropriation for the 
  1.11  program, the commissioner shall make grants to nonprofit 
  1.12  organizations to engage in providing technical assistance and 
  1.13  lending to small, beginning businesses.  A micro loan under this 
  1.14  section must not exceed $15,000 for a single business entity or 
  1.15  entities with common ownership. 
  1.16     (b) Nonprofit organizations must apply for grants under 
  1.17  this section following procedures established by the 
  1.18  commissioner.  The applications must include: 
  1.19     (1) the local need for microenterprise support; 
  1.20     (2) proposed criteria for business eligibility; 
  1.21     (3) proposals for identifying and serving eligible 
  1.22  businesses; 
  1.23     (4) description of technical assistance to be provided to 
  1.24  eligible businesses; and 
  1.25     (5) proposals to coordinate technical assistance with 
  2.1   financial assistance. 
  2.2      (c) The commissioner shall establish evaluation procedures 
  2.3   for the microenterprise support activities carried out with 
  2.4   grants provided under this section.  The evaluation shall 
  2.5   determine if the microenterprise support program should be 
  2.6   extended and expanded.  The commissioner shall report to the 
  2.7   legislature on the microenterprise support program by February 
  2.8   1, 1997.  The report shall contain an evaluation of the results, 
  2.9   recommendations to continue or change the program 
  2.10  recommendations on suggested program changes, and a suggested 
  2.11  level of funding. 
  2.12     Sec. 2.  [MATCHING REQUIREMENT.] 
  2.13     Grants to private, nonprofit organizations under section 1 
  2.14  must be matched on a one-to-one basis by nonstate funds. 
  2.15     Sec. 3.  [APPROPRIATION.] 
  2.16     $....... is appropriated from the general fund to the 
  2.17  commissioner of trade and economic development for grants to 
  2.18  private, nonprofit organizations for microenterprise support 
  2.19  activities under section 1.  The appropriation does not lapse 
  2.20  but is available until expended.