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MN SF3367
Bill
Status
Introduced
2/20/2020
Primary Sponsor
Karin Housley
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AI Summary
- Amends Minnesota Statutes sections 116M.17, subdivision 4 and 116M.18, subdivision 8 relating to economic development and emerging entrepreneur loan programs
- Changes the annual reporting deadline for nonprofit corporations receiving program grants from February 15 to April 15 of each year
- Requires annual reports to include descriptions of supported businesses, loan accounts, impact on minority business enterprises, job creation data, financial information, and administrative expenses
- Requires nonprofit corporations to provide independent annual audits performed in accordance with generally accepted accounting practices and auditing standards, with copies submitted to the department
- Clarifies that the department's annual legislative report must account for loans made in the previous calendar year and include job creation, low-income area impact, and minority business development recommendations
Legislative Description
Emerging entrepreneur program provisions modifications
Last Action
Second reading
3/11/2020
Committee Referrals
Jobs and Economic Growth Finance and Policy2/20/2020
Full Bill Text
No bill text available