summary
Introduced
03/06/2023
03/06/2023
In Committee
03/06/2023
03/06/2023
Crossed Over
Passed
Dead
05/20/2024
05/20/2024
Introduced Session
93rd Legislature 2023-2024
Bill Summary
A bill for an act relating to economic development; appropriating money for grants to initiative foundations.
AI Summary
This bill appropriates $18 million from the general fund to the Minnesota Department of Employment and Economic Development (DEED) to provide grants to six initiative foundations in the state. The grants will be used to capitalize the foundations' revolving loan funds, which address unmet financing needs of for-profit business startups, expansions, and ownership transitions, as well as nonprofit organizations and developers of housing to support the construction, rehabilitation, and conversion of housing units. The bill specifies the amount of each grant, with $3 million going to each of the six initiative foundations. This is a one-time appropriation.
Committee Categories
Labor and Employment
Sponsors (5)
Last Action
Hearing (12:30:00 3/20/2023 ) (on 03/20/2023)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2595&ssn=0&y=2023 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=SF2595&version=0&session=ls93&session_year=2023&session_number=0&format=pdf |
Loading...