298.2961 Producer grants.
Subdivision 1. Appropriation. (a) $10,000,000 is appropriated from the northeast Minnesota economic protection trust fund to a special account in the taconite area environmental protection fund for grants or loans to producers on a project-by-project basis as provided in this section.
(b) The proceeds of the tax designated under section 298.28, subdivision 9b, are appropriated for grants and loans to producers on a project-by-project basis as provided in this section.
Subd. 2. Projects; approval. (a) Projects funded must be for:
(1) environmentally unique reclamation projects; or
(2) pit or plant expansions or modernizations other than for a value added iron products plant that extend the life of the plant.
(b) To be proposed by the board, a project must be approved by at least eight iron range resources and rehabilitation board members. The money for a project may be spent only upon approval of the project by the governor. The board may submit supplemental projects for approval at any time.
(c) The board may require that it receive an equity percentage in any project to which it contributes under this section.
Official Publication of the State of Minnesota
Revisor of Statutes