as introduced - 91st Legislature (2019 - 2020) Posted on 03/11/2019 05:07pm
Engrossments | ||
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Introduction | Posted on 01/24/2019 |
A bill for an act
relating to economic development; creating a federal research and development
support program; appropriating money; proposing coding for new law in Minnesota
Statutes, chapter 116J.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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A grant program is established to award grants to eligible
applicants in order to match funds received through the federal Small Business Innovation
Research (SBIR) and Small Business Technology Transfer (STTR) programs.
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An eligible applicant is a company with headquarters in
Minnesota that receives grants or contracts, awarded after state fiscal year 2018, under:
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(1) phase I of the federal SBIR or STTR program; or
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(2) phase II of the federal SBIR or STTR program.
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An eligible applicant must submit an application to the
commissioner on a form prescribed by the commissioner.
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No grant awarded to a recipient defined under subdivision 2, clause
(1), shall exceed $250,000 per recipient per year. No grant awarded to a recipient under
subdivision 2, clause (2), shall exceed $500,000 per recipient per year. Grants awarded to
a single entity shall not exceed $750,000 per recipient per year.
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$8,000,000 in fiscal year 2020 and $8,000,000 in fiscal year 2021 are appropriated to
the commissioner of employment and economic development for the purposes of
administering the federal research and development support program under Minnesota
Statutes, section 116J.8756.
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This section is effective the day following final enactment.
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