MN SF4537

Appropriates federal funds from the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to the Commissioner of Employment and Economic Development for small business grants in fiscal year 2020, with a fallback to general fund appropriation if federal funds are not allocated by June 1, 2020.

Eligible businesses must be located in Minnesota, owned by permanent Minnesota residents, employ 20 or fewer workers, operate in specified industries (accommodation, restaurants, bars, amusement and recreation, retail, movies, or health and personal care), own or rent physical space for retail sales, and be in good standing with the secretary of state and Department of Revenue.

Eligible businesses must have suspended retail sales or ceased operations as a result of the COVID-19 outbreak.

Grants are disbursed at $600 per week to eligible businesses throughout the duration of any peacetime public health emergency declared by the governor relating to COVID-19, with priority given to businesses that have not received other public financial assistance.

At least 50 percent of appropriated funds must be directed to businesses located outside the seven-county metropolitan area.