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Minnesota Legislature

Office of the Revisor of Statutes

SF 2293

as introduced - 91st Legislature (2019 - 2020) Posted on 03/11/2019 04:22pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to economic development; requiring reports; appropriating money for
entrepreneurial development.

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

Section 1. new text beginASSISTANCE TO ENTREPRENEURS; APPROPRIATION.
new text end

new text begin (a) $150,000 in fiscal year 2020 and $150,000 in fiscal year 2021 are appropriated from
the general fund to the commissioner of employment and economic development for a grant
to the Regional Center for Entrepreneurial Facilitation hosted at the South Central College
to collaborate on centers for entrepreneurial excellence on the North Mankato and Faribault
campuses of South Central College. Funds available under this section must be used to
provide entrepreneur and small business development direct professional business assistance
services in the following counties in Minnesota: Blue Earth, Brown, Faribault, Le Sueur,
Martin, Nicollet, Sibley, Watonwan, and Waseca. For the purposes of this section, "direct
professional business assistance services" must include but is not limited to pre-venture
assistance for individuals considering starting a business and services for underserved
populations, agricultural businesses, and students of South Central College. This
appropriation is not available until the commissioner determines that an equal amount is
committed from nonstate sources. Any balance in the first year does not cancel and is
available for expenditure in the second year.
new text end

new text begin (b) Grant recipients shall report to the commissioner by February 1 of each year and
include information on the number of customers served in each county; the number of
businesses started, stabilized, or expanded; the number of jobs created and retained; and
business success rates in each county. By April 1 of each year, the commissioner shall report
the information submitted by grant recipients to the chairs of the standing committees of
the house of representatives and the senate having jurisdiction over economic development
issues.
new text end