MN SF3593

Prohibits nonprofit organizations from receiving economic development or workforce development grants if they compensate any officer or employee at more than 125 percent of the governor's salary in a 12-month period.

Applies to the first fiscal year beginning, during, or after the 12-month compensation period, plus the following fiscal year.

Requires the salary threshold to be adjusted annually on January 1 based on the Consumer Price Index increase from October of the second prior year to October of the immediately prior year.

Defines compensation broadly to include salary, bonuses, stock options, employee benefits, employer retirement contributions, and any other compensation or benefit of value.

Exempts performance grants administered under Minnesota Statutes section 116J.8747 from this prohibition.