Bill Text: MN HF2183 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Urban initiative loan program and greater Minnesota business development funding provided, and money appropriated.
Sponsorship: Partisan Bill (Democrat 16)
Status: (Introduced - Dead) 2012-04-16 - Author added Allen [HF2183 Detail]
Download: Minnesota-2011-HF2183-Introduced.html
1.2relating to economic development; appropriating money for the urban initiative
1.3loan program and greater Minnesota business development.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. URBAN INITIATIVE LOAN PROGRAM.
1.6$5,000,000 is appropriated from the general fund to the commissioner of
1.7employment and economic development in fiscal year 2012 for the urban initiative
1.8challenge grant program under Minnesota Statutes, section 116M.18. This is a onetime
1.9appropriation and is available until expended.
1.10 Sec. 2. APPROPRIATIONS; GREATER MINNESOTA BUSINESS
1.11DEVELOPMENT.
1.12$6,000,000 is appropriated from the general fund to the commissioner of
1.13employment and economic development in fiscal year 2012 for grants to community
1.14organizations in the six Minnesota Initiative Foundation regions to support increasing the
1.15number of loans made to small businesses each year in rural Minnesota. The commissioner
1.16of employment and economic development may make a grant to each Minnesota Initiative
1.17Foundation after the foundation has completed and submitted a strategic plan on how
1.18the grant will be used in the region, including information on any new loan programs
1.19being created and existing loan programs being expanded or improved. This is a onetime
1.20appropriation and is available until expended.
1.3loan program and greater Minnesota business development.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. URBAN INITIATIVE LOAN PROGRAM.
1.6$5,000,000 is appropriated from the general fund to the commissioner of
1.7employment and economic development in fiscal year 2012 for the urban initiative
1.8challenge grant program under Minnesota Statutes, section 116M.18. This is a onetime
1.9appropriation and is available until expended.
1.10 Sec. 2. APPROPRIATIONS; GREATER MINNESOTA BUSINESS
1.11DEVELOPMENT.
1.12$6,000,000 is appropriated from the general fund to the commissioner of
1.13employment and economic development in fiscal year 2012 for grants to community
1.14organizations in the six Minnesota Initiative Foundation regions to support increasing the
1.15number of loans made to small businesses each year in rural Minnesota. The commissioner
1.16of employment and economic development may make a grant to each Minnesota Initiative
1.17Foundation after the foundation has completed and submitted a strategic plan on how
1.18the grant will be used in the region, including information on any new loan programs
1.19being created and existing loan programs being expanded or improved. This is a onetime
1.20appropriation and is available until expended.
