Minnesota 2025-2026 Regular Session

Minnesota Senate Bill SF3326 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	25-05102 as introduced03/28/25 REVISOR SS/DG
24	24	SENATE
25	25	STATE OF MINNESOTA
26	26	S.F. No. 3326NINETY-FOURTH SESSION
27	27	(SENATE AUTHORS: PAPPAS)
28	28	OFFICIAL STATUSD-PGDATE
29	29	Introduction and first reading04/07/2025
30	30	Referred to Jobs and Economic Development 2.1must be used to expand workforce capacity and increase employment opportunities within
31	31	2.2social benefit corporations that currently employ up to 15 individuals with the goal of
32	32	2.3expanding employment to 30 individuals. Money may be used to subsidize the wages of
33	33	2.4new hires, for workforce training, and for employment support services, including job
34	34	2.5coaching and retention initiatives. This is a onetime appropriation and is available until June
35	35	2.630, 2027.
36	36	2.7 (b) Each recipient of a grant must submit a report to the commissioner of employment
37	37	2.8and economic development on the use of grant money, including the number of new
38	38	2.9employees hired as a result of the grant and retention and job satisfaction metrics, within
39	39	2.10one year of receiving a grant.
40	40	2.11 Sec. 3. APPROPRIATION; SMALL BUSINESS JOB CREATION IN THE ST.
41	41	2.12PAUL MIDWAY AREA.
42	42	2.13 (a) $300,000 in fiscal year 2026 is appropriated from the general fund to the commissioner
43	43	2.14of employment and economic development for grants to support small businesses in the St.
44	44	2.15Paul Midway area and foster economic growth and job creation. Grants should target the
45	45	2.16needs of African immigrant business owners and support business stability and workforce
46	46	2.17expansion. This is a onetime appropriation and is available until June 30, 2027.
47	47	2.18 (b) Each recipient of a grant must submit a report to the commissioner of employment
48	48	2.19and economic development on the use of grant money, the number of new employees hired
49	49	2.20as a result of the grant, and the economic impact of the grant within one year of receiving
50	50	2.21a grant.
51	51	2Sec. 3.
52	52	25-05102 as introduced03/28/25 REVISOR SS/DG