MN SF4448

Extends the revenue loss comparison period for loan eligibility from March 15, 2020-2021 to March 15, 2021-2022, comparing against March 15, 2019-2020 baseline.

Changes the operational status requirement date from March 15, 2020 to March 15, 2021 for businesses to qualify for forgivable loans.

Extends the loan disbursement deadline from April 1, 2022 to December 30, 2022, with unspent funds due back to the state general fund by April 1, 2023.

Modifies maximum loan calculation to use gross annual receipts for fiscal years 2020 and 2021 combined (previously fiscal year 2020 only), capped at $500,000 per business.

Changes the legislative reporting deadline from January 15, 2023 to April 30, 2023 for Lake of the Woods County to report on loans provided.