Minnesota 2025-2026 Regular Session

Minnesota House Bill HF3061 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	1.1 A bill for an act
2	2	1.2 relating to economic development; requiring reports; appropriating money for
3	3	1.3 grants to the African Development Center, social benefit corporations, and small
4	4	1.4 businesses in the St. Paul Midway area.
5	5	1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
6	6	1.6 Section 1. APPROPRIATION; AFRICAN DEVELOPMENT CENTER.
7	7	1.7 (a) $4,000,000 in fiscal year 2026 is appropriated from the general fund to the
8	8	1.8commissioner of employment and economic development for a grant to the African
9	9	1.9Development Center for the purposes listed in paragraph (b). This is a onetime appropriation
10	10	1.10and is available until June 30, 2027.
11	11	1.11 (b) Of the amount in paragraph (a):
12	12	1.12 (1) $2,000,000 is for loans to assist small business owners in purchasing commercial
13	13	1.13real estate;
14	14	1.14 (2) $910,000 is for loan loss reserves to support loan volume growth and attract additional
15	15	1.15capital; and
16	16	1.16 (3) $1,090,000 is for increasing organizational capacity building.
17	17	1.17 Sec. 2. APPROPRIATION; SOCIAL BENEFIT CORPORATIONS.
18	18	1.18 (a) $500,000 in fiscal year 2026 is appropriated from the general fund to the commissioner
19	19	1.19of employment and economic development for grants to social benefit corporations, as
20	20	1.20defined in Minnesota Statutes, section 304A.011, that provide employment opportunities
21	21	1.21to underserved, low-income, and hard-to-employ populations in Minnesota. Grant money
22	22	1Sec. 2.
23	23	REVISOR SS/DG 25-0510203/28/25
24	24	State of Minnesota
25	25	This Document can be made available
26	26	in alternative formats upon request
27	27	HOUSE OF REPRESENTATIVES
28	28	H. F. No. 3061
29	29	NINETY-FOURTH SESSION
30	30	Authored by Hussein04/02/2025
31	31	The bill was read for the first time and referred to the Committee on Workforce, Labor, and Economic Development Finance and Policy 2.1must be used to expand workforce capacity and increase employment opportunities within
32	32	2.2social benefit corporations that currently employ up to 15 individuals with the goal of
33	33	2.3expanding employment to 30 individuals. Money may be used to subsidize the wages of
34	34	2.4new hires, for workforce training, and for employment support services, including job
35	35	2.5coaching and retention initiatives. This is a onetime appropriation and is available until June
36	36	2.630, 2027.
37	37	2.7 (b) Each recipient of a grant must submit a report to the commissioner of employment
38	38	2.8and economic development on the use of grant money, including the number of new
39	39	2.9employees hired as a result of the grant and retention and job satisfaction metrics, within
40	40	2.10one year of receiving a grant.
41	41	2.11 Sec. 3. APPROPRIATION; SMALL BUSINESS JOB CREATION IN THE ST.
42	42	2.12PAUL MIDWAY AREA.
43	43	2.13 (a) $300,000 in fiscal year 2026 is appropriated from the general fund to the commissioner
44	44	2.14of employment and economic development for grants to support small businesses in the St.
45	45	2.15Paul Midway area and foster economic growth and job creation. Grants should target the
46	46	2.16needs of African immigrant business owners and support business stability and workforce
47	47	2.17expansion. This is a onetime appropriation and is available until June 30, 2027.
48	48	2.18 (b) Each recipient of a grant must submit a report to the commissioner of employment
49	49	2.19and economic development on the use of grant money, the number of new employees hired
50	50	2.20as a result of the grant, and the economic impact of the grant within one year of receiving
51	51	2.21a grant.
52	52	2Sec. 3.
53	53	REVISOR SS/DG 25-0510203/28/25