SF 697

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to economic development; allowing use of the appropriation to include a
study of the business plans for international trade zones; amending Laws 2005,
First Special Session chapter 3, article 10, section 23.

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

Section 1.

Laws 2005, First Special Session chapter 3, article 10, section 23, is
amended to read:

Sec. 23. GRANTS TO QUALIFYING BUSINESSES.

$750,000 is appropriated in fiscal year 2006 from the general fund to the
commissioner of employment and economic development to be distributed to the
foreign trade zone authority to provide grants to qualified businesses as determined
by the authority, subject to Minnesota Statutes, sections 116J.993 to 116J.995, to
provide incentives for the businesses to locate their operations in an international
economic development zone. new text begin Of this appropriation, up to $250,000 may be used by the
commissioner for a study to determine the economic viability of business plans for
international economic development zones. new text end If the money is not distributed during fiscal
year 2006, it remains available for distribution under this section during fiscal year 2007.

new text begin EFFECTIVE DATE. new text end

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