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HF 4566

as introduced - 91st Legislature (2019 - 2020) Posted on 04/17/2020 02:06pm

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

Bill Text Versions

Engrossments
Introduction Posted on 04/17/2020

Current Version - as introduced

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A bill for an act
relating to economic development; appropriating money for grants to small
businesses affected by the COVID-19 outbreak.

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

Section 1. new text beginSMALL BUSINESS RELIEF GRANTS; APPROPRIATION.
new text end

new text begin (a) $....... in fiscal year 2020 is appropriated from the federal funds received by the state
of Minnesota for coronavirus relief in the coronavirus relief fund under Public Law 116-136
to the commissioner of employment and economic development for grants under paragraph
(c). The appropriation in this paragraph is reduced by any amount appropriated in paragraph
(b). Funds are available until December 31, 2020.
new text end

new text begin (b) If the appropriation in paragraph (a) is unable to be made before May 1, 2020, then
$....... in fiscal year 2020 is appropriated from the workforce development fund to the
commissioner of employment and economic development for grants under paragraph (c).
Funds are available until December 31, 2020.
new text end

new text begin (c) The commissioner shall use money appropriated under paragraph (a) or (b) to make
grants to economic development organizations who shall make grants of up to $10,000 to
individual businesses that:
new text end

new text begin (1) are located in the state of Minnesota;
new text end

new text begin (2) employ the equivalent of 50 full-time workers or less; and
new text end

new text begin (3) can demonstrate financial hardship as a result of the COVID-19 outbreak.
new text end

new text begin Grant funds received by individual businesses shall be used for working capital, to support
payroll expenses, rent, mortgage payments, utility bills, and other similar expenses that
occur in the regular course of business.
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