MN HF2

Establishes the PROMISE Act to provide disaster assistance through a Community Repair Panel that reviews claims and awards compensation to individuals and businesses in eligible zones damaged during May-June 2020 civil unrest in Minneapolis and St. Paul, with $125 million appropriated for awards and $5 million for administrative costs.

Creates a Metropolitan Area Redevelopment Corporation led by people of color and indigenous people to address racial discrimination impacts through grants to nonprofit organizations for health care, small business development, affordable housing, and community redevelopment in the seven-county metro area.

Establishes a Civil Unrest Immediate Relief Program providing $167.57 million in grants and loans to community organizations and cities for economic relief, including $5 million each for Minneapolis and St. Paul to acquire property in affected business corridors to prevent displacement and retain existing businesses.

Imposes a 0.125 percent metropolitan county sales and use tax effective January 1, 2021, subject to a reverse referendum, with proceeds dedicated to the redevelopment corporation's work.

Provides property tax abatements for damaged properties (50-100 percent relief based on damage severity), sales tax exemptions for repair materials and equipment through December 1, 2022, rent freeze protections for affected tenants through April 1, 2024, limited eminent domain authority for cities until December 31, 2022, and establishes a Civil Unrest Investigatory Commission to examine government responses to the unrest.