as introduced - 91st Legislature (2019 - 2020) Posted on 03/03/2020 09:32am
A bill for an act
relating to economic development; excluding certain financial assistance projects
from economic development prevailing wage requirements; amending Minnesota
Statutes 2018, section 116J.871, subdivision 1.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2018, section 116J.871, subdivision 1, is amended to read:
(a) For the purposes of this section, the following terms have
the meanings given them.
(b) "Economic development" means financial assistance provided to a person directly
or to a local unit of government or nonprofit organization on behalf of a person who is
engaged in the manufacture or sale of goods and services. Economic development does not
includenew text beginnew text end (1) financial assistance for rehabilitation of existing housing deleted text beginordeleted text endnew text beginnew text end (2) financial
assistance for new housing construction in which total financial assistance at a single project
site is less than $100,000new text beginnew text end.
(c) "Financial assistance" means (1) a grant awarded by a state agency for economic
development related purposes if a single business receives $200,000 or more of the grant
proceeds; (2) a loan or the guaranty or purchase of a loan made by a state agency for
economic development related purposes if a single business receives $500,000 or more of
the loan proceeds; or (3) a reduction, credit, or abatement of a tax assessed under chapter
297A where the tax reduction, credit, or abatement applies to a geographic area smaller
than the entire state and was granted for economic development related purposes. Financial
assistance does not include payments by the state of aids and credits under chapter 273 or
477A to a political subdivision.
(d) "Project site" means the location where improvements are made that are financed in
whole or in part by the financial assistance; or the location of employees that receive financial
assistance in the form of employment and training services as defined in section 116L.19,
subdivision 4, or customized training from a technical college.
(e) "State agency" means any agency defined under section 16B.01, subdivision 2,
Enterprise Minnesota, Inc., and the Iron Range Resources and Rehabilitation Board.