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Bill > HF1246


MN HF1246

Neighborhood Development Center grant funding provided, and money appropriated.


summary

Introduced
02/20/2025
In Committee
02/20/2025
Crossed Over
Passed
Dead

Introduced Session

94th Legislature 2025-2026

Bill Summary

A bill for an act relating to economic development; appropriating money for a grant to the Neighborhood Development Center.

AI Summary

This bill appropriates $2.25 million from the state's general fund in fiscal year 2026 to the Minnesota Department of Employment and Economic Development, specifically for a grant to the Neighborhood Development Center (NDC). The grant is designed to support small business programs across Minnesota, including providing training, lending, business services, and real estate initiatives. The funding will enable NDC to offer technical assistance and grants to organizations outside the seven-county metropolitan area, provide one-on-one entrepreneurial support, and develop a cybersecurity center. The appropriation is considered a one-time funding allocation, with any unused funds from the first year remaining available for use in the second year, which allows for flexible spending and ensures that the allocated resources are not automatically returned to the general fund if not fully spent in the initial year.

Committee Categories

Labor and Employment

Sponsors (5)

Last Action

Hearing (08:15:00 3/6/2025 ) (on 03/06/2025)

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