SF1622 Summary

• Creates Minnesota State Competitiveness Fund in special revenue fund to provide grant matching funds and technical assistance for eligible Minnesota entities pursuing federal energy projects under the Infrastructure Investment and Jobs Act and Inflation Reduction Act of 2022.

• Establishes priority-based grant awards with highest priority for federal formula funds directed to the state requiring a match, followed by political subdivisions, tribal governments, institutions of higher education, and utilities.

• Sets maximum grant awards of 100% of required match for top three priority categories, 50% for investor-owned utilities (up to 100% if 40% of benefits go to disadvantaged communities), and up to 10-20% of federal funds requested for projects without match requirements.

• Limits individual entity grants to $15,000,000 total and $300,000 per grant development assistance award; requires commissioner to report annually through February 15, 2035 on applications, grants awarded, expenditures, and audit results.

• Appropriates $115,000,000 in fiscal year 2023: $100,000,000 for match grants (at least $75,000,000 for awards under $1,000,000), $6,000,000 for grant development assistance, and $8,250,000 for administration, technology, and reporting.