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HF 1765

as introduced - 87th Legislature (2011 - 2012) Posted on 01/24/2012 10:12am

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

Bill Text Versions

Engrossments
Introduction Posted on 01/13/2012

Current Version - as introduced

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A bill for an act
relating to capital investment; authorizing the sale and issuance of bonds;
appropriating money for an entrepreneurship and technology business incubator.

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

Section 1. new text beginENTREPRENEURSHIP AND TECHNOLOGY BUSINESS
INCUBATOR; PINE TECHNICAL COLLEGE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $250,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a matching
grant to the Board of Trustees of the Minnesota State Colleges and Universities for
Pine Technical College to design, construct, furnish, and equip an entrepreneurship
and technology business incubator at Pine Technical College. This appropriation is not
available until the board determines that an equal match has been committed from nonstate
sources, including a grant from the United States Economic Development Administration.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in subdivision 1 from the
bond proceeds fund, the commissioner of management and budget shall sell and issue
bonds of the state in an amount up to $250,000 in the manner, upon the terms, and with
the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
Minnesota Constitution, article XI, sections 4 to 7.
new text end

new text begin EFFECTIVE DATE. new text end

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