MN SF1127

Amends Minnesota Statutes section 161.3212 to expand the definition of eligible businesses from "businesses" to "small business concerns" owned and operated by socially and economically disadvantaged individuals

Defines "small business concern" and "socially and economically disadvantaged individual" by reference to Code of Federal Regulations, title 49, section 26.5 (changed from section 23.5)

Allows the commissioner to grant appropriated funds for disadvantaged business programs to nonprofit organizations that make or guarantee working capital loans to enable eligible small businesses to secure government contracts for goods, services, or construction-related services

Requires money from constitutionally or statutorily dedicated funds to be used only for purposes consistent with the dedicated fund's original purposes