2018 Minnesota Statutes
- Search Minnesota Statutes
- About Minnesota Statutes
- 2025 Statutes New, Amended or Repealed
- 2025 Table of Chapters
- 2025 Statutes Topics (Index)
Chapter 16B
Section 16B.87
Recent History
- 2023 Subd. 2 Amended 2023 c 62 art 2 s 75
- 2021 16B.87 Amended 2021 c 4 art 8 s 2
- 2008 Subd. 1 Amended 2008 c 204 s 6
- 1997 Subd. 4 Repealed 1997 c 7 art 2 s 67
16B.87 AWARD AND REPAYMENT OF PRODUCTIVITY LOANS.
Subdivision 1.Committee.
The Productivity Loan Committee consists of the commissioners of administration, management and budget, and revenue. The commissioner of administration serves as chair of the committee. The members serve without compensation or reimbursement for expenses.
Subd. 2.Award and terms of loans.
An agency shall apply for a loan on a form provided by the commissioner of administration. The committee shall review applications for loans and shall award a loan based upon criteria adopted by the committee. The committee shall determine the amount, interest, and other terms of the loan. The time for repayment of a loan may not exceed five years.
Subd. 3.Repayment.
An agency receiving a loan under this section shall repay the loan according to the terms of the loan agreement. The principal and interest must be paid to the commissioner of administration who shall deposit it in the productivity loan fund.
History:
Official Publication of the State of Minnesota
Revisor of Statutes