Senate Floor Amendment

1ss0004a-3

1.1Senator Tomassoni moved to amend S.F. No. 4 as follows:
1.2Page 1, after line 5, insert:

1.3    "Section 1. Minnesota Statutes 2016, section 116J.423, subdivision 2, as amended by
1.4Laws 2017, chapter 94, article 7, section 9, is amended to read:
1.5    Subd. 2. Use of fund. The commissioner shall use money in the fund to make loans to
1.6public or private entities, including forgivable loans, equity investments, or grants for
1.7infrastructure in mineral, steel, energy, or any other industry processing, production,
1.8manufacturing, or technology project that would enhance the economic diversification and
1.9that is located within the taconite assistance area as defined under section 273.1341. The
1.10commissioner must, prior to making any loans or equity investments and after consultation
1.11with industry and public officials, develop a strategy for making loans, equity investments,
1.12or grants for infrastructure that assists assist the taconite assistance area in retaining and
1.13enhancing its economic competitiveness. Money in the fund may also be used to pay for
1.14the costs of carrying out the commissioner's due diligence duties under this section."
1.15Amend the title accordingly
1.16The motion prevailed. #did not prevail. So the amendment was #not adopted.