summary
Introduced
02/29/2024
02/29/2024
In Committee
02/29/2024
02/29/2024
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 a grant to Propel Nonprofits.
AI Summary
This bill appropriates $497,000 in fiscal year 2025 from the general fund to the Commissioner of Employment and Economic Development for a grant to Propel Nonprofits, a nonprofit organization, to establish a microloan capital program. The program will provide assistance, such as loans, forgivable loans, grants for working capital or regranting, and real estate and technical assistance, to organizations that primarily serve historically underserved communities. Up to 5% of the appropriation may be used by Propel Nonprofits for administrative costs, and this is a one-time appropriation.
Committee Categories
Labor and Employment
Sponsors (1)
Last Action
Referred to Jobs and Economic Development (on 02/29/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF4414&ssn=0&y=2023 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=SF4414&version=0&session=ls93&session_year=2024&session_number=0&format=pdf |
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