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MN SF3527
Bill
Status
Introduced
4/14/2016
Primary Sponsor
David Tomassoni
Click for details
AI Summary
- Allocates $6,000,000 from the Minnesota Investment Fund in fiscal year 2017 for a forgivable loan to complete equipment upgrades at an eligible manufacturing facility.
- Eligible facility must be pursuing Phase II SBIR contract with National Institute of Science and Technology (NIST) for NIH-developed technology, Phase II Small Business Technology Transfer contract with Department of Energy (DOE), and commercializing space flight sensors for NASA satellite missions.
- Funds must be used for purchase of new or used equipment and supplies between July 1, 2016 and June 30, 2017 that are directly related to completing NIST Phase II, DOE Phase II, and NASA satellite mission requirements.
- Loan is not subject to standard Minnesota Investment Fund limitations and shall be forgiven by the commissioner after verification that the project meets agreed-upon performance goals.
- Appropriated amount remains available until expended.
Legislative Description
Minnesota investment fund manufacturing facility loan authorization
Last Action
Referred to Jobs, Agriculture and Rural Development
4/14/2016
Committee Referrals
Jobs, Agriculture and Rural Development4/14/2016
Full Bill Text
No bill text available