2007 Minnesota Statutes
- Search Minnesota Statutes
- About Minnesota Statutes
- 2007 Statutes New, Amended or Repealed
- 2007 Table of Chapters
- 2007 Statutes Topics (Index)
Chapter 116J
Section 116J.424
Recent History
- 2017 116J.424 Amended 2017 c 94 art 7 s 10
- 2016 116J.424 Amended 2016 c 189 art 7 s 15
- 2013 116J.424 Amended 2013 c 3 s 1
- 2009 116J.424 Amended 2009 c 78 art 7 s 1
- 2001 116J.424 Amended 2001 c 5 art 6 s 1
- 1999 116J.424 New 1999 c 223 art 2 s 24
This is an historical version of this statute chapter. Also view the most recent published version.
116J.424 IRON RANGE RESOURCES AND REHABILITATION BOARD
CONTRIBUTION.
The commissioner of the Iron Range Resources and Rehabilitation Board with approval of
the board shall provide an equal match for any loan or equity investment made for a facility
located in the tax relief area defined in section 273.134, paragraph (b), by the Minnesota minerals
21st century fund created by section 116J.423. The match may be in the form of a loan or equity
investment, notwithstanding whether the fund makes a loan or equity investment. The state shall
not acquire an equity interest because of an equity investment or loan by the board and the board
at its sole discretion shall decide what interest it acquires in a project. The commissioner of
employment and economic development may require a commitment from the board to make the
match prior to disbursing money from the fund.
History: 1999 c 223 art 2 s 24; 1Sp2001 c 5 art 6 s 1; 1Sp2003 c 4 s 1
CONTRIBUTION.
The commissioner of the Iron Range Resources and Rehabilitation Board with approval of
the board shall provide an equal match for any loan or equity investment made for a facility
located in the tax relief area defined in section 273.134, paragraph (b), by the Minnesota minerals
21st century fund created by section 116J.423. The match may be in the form of a loan or equity
investment, notwithstanding whether the fund makes a loan or equity investment. The state shall
not acquire an equity interest because of an equity investment or loan by the board and the board
at its sole discretion shall decide what interest it acquires in a project. The commissioner of
employment and economic development may require a commitment from the board to make the
match prior to disbursing money from the fund.
History: 1999 c 223 art 2 s 24; 1Sp2001 c 5 art 6 s 1; 1Sp2003 c 4 s 1
Official Publication of the State of Minnesota
Revisor of Statutes