MN HF3932

$6,000,000 forgivable loan from the Minnesota Investment Fund in fiscal year 2017 for equipment upgrades at an existing manufacturing facility.

Eligible facility must be in process of approval for Phase II Small Business Investment Research (SBIR) contract with National Institute of Science and Technology (NIST) for commercializing National Institute of Health (NIH) technology.

Eligible facility must also be pursuing Phase II Small Business Technology Transfer contract with Department of Energy (DOE) and commercializing space flight sensors for NASA satellite missions under West Virginia University subcontract.

Funds must be used for new or used equipment and supplies purchases between July 1, 2016 and June 30, 2017 directly related to NIST Phase II, DOE Phase II, and NASA satellite mission requirements.

Commissioner shall forgive the loan after verification that the project satisfies agreed-upon performance goals; loan is not subject to standard Minnesota Statutes limitations.