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S.F. No. 784 - Statutory Appropriations and Modifications for Certain Economic Development Programs
 
Author: Senator Paul J. Utke
 
Prepared By: Carlon D. Fontaine, Senate Counsel (651/296-4395)
 
Date: February 22, 2017



 

S.F. No. 784 creates statutory appropriations for certain economic development programs and modifies program eligibility for the Minnesota job creation fund.

Section 1 [Appropriations] creates a statutory appropriation beginning in fiscal year 2018 to annually appropriate $2,000,000 from the general fund to DEED for the greater Minnesota business development public infrastructure grant program.

Section 2 [Appropriation] creates a statutory appropriation beginning in fiscal year 2018 to annually appropriate $15,000,000 from the general fund to DEED for the Minnesota investment fund program.

Section 3 [Job creation fund business designation requirements] reduces the amount of new full-time employee positions to be created within two years of the designation as a job creation fund business from ten to five employees.

Section 4 [Appropriation] creates a statutory appropriation beginning in fiscal year 2018 to annually appropriate $12,500,000 from the general fund to DEED for the job creation fund for program awards and rebates. Requires at least 75 percent of the amount appropriated to be spent on projects outside the metro area.

Section 5 [Appropriation] creates a statutory appropriation beginning in fiscal year 2018 to annually appropriate $2,000,000 from the workforce development fund to DEED for job training grants.

CDF/syl

 
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