Loading chat...

MN SF1815

Bill

Official Source

Status

Introduced

2/27/2019

Primary Sponsor

Eric Pratt

Click for details

Origin

Senate

91st Legislature 2019-2020

AI Summary

  • Local governments with uncommitted Minnesota investment fund loan repayment money may transfer 20 percent of their balance to the state general fund before June 30, 2020
  • Local entities exercising this option may use the remaining 80 percent of uncommitted funds as general purpose aid for any lawful expenditure
  • By February 15, 2021, participating local governments must submit to legislative committees with economic development policy and finance jurisdiction an accounting and explanation of fund use and distribution
  • This provision creates a one-time exception to existing restrictions on use of Minnesota investment fund local government loan repayment funds under Minnesota Statutes section 116J.8731

Legislative Description

Minnesota investment fund local government loan repayment funds use modification

Last Action

Comm report: To pass and re-referred to Finance

3/11/2019

Committee Referrals

Finance3/11/2019
Jobs and Economic Growth Finance and Policy2/27/2019

Full Bill Text

No bill text available