MN HF2

Establishes the PROMISE Act creating a community repair panel to award one-time disaster assistance payments (up to a maximum amount determined by the panel) to individuals and businesses affected by May-June 2020 civil unrest in eligible zones in Minneapolis and St. Paul, with $125 million appropriated for awards and $5 million for administrative costs.

Creates the Metropolitan Area Redevelopment Corporation led by people of color and indigenous people to address systemic racial discrimination through grants to nonprofit organizations for community redevelopment projects, supported by a 0.125 percent metropolitan county sales and use tax beginning January 1, 2021.

Establishes the Civil Unrest Immediate Relief Program providing $167.57 million in grants and loans to community organizations and the cities of Minneapolis and Saint Paul for economic relief, with specific allocations for property acquisition in affected business corridors.

Imposes rent stabilization on renewed or new commercial and residential leases for assistance recipients by capping rent at pre-March 1, 2020 levels with annual increases tied to Consumer Price Index, and exempts building materials and equipment used for repairs from sales tax through December 1, 2022.

Authorizes limited use of eminent domain in eligible zones through December 31, 2022 to acquire and resell property subject to redevelopment agreements, and establishes a Civil Unrest Investigatory Commission to examine government responses and issue a public report by December 15, 2020.