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MN HF4342
Bill
Status
3/16/2026
Primary Sponsor
Cedrick Frazier
Click for details
AI Summary
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Appropriates $100 million in FY 2026 to establish relief grants for small businesses negatively impacted by federal enforcement activity between July 1, 2025, and February 28, 2026
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Eligible businesses must be Minnesota-based, at least 50% Minnesota-owned, have 50 or fewer full-time employees, and demonstrate at least a 20% decline in revenue or sales compared to the prior year
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Individual grants range from $5,000 to $25,000 per business location, awarded by lottery, with funds usable for payroll, rent, utilities, inventory, security upgrades, and working capital
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Operators of culturally-focused indoor markets with at least 25 small tenant businesses may receive up to $250,000, with at least 50% used for tenant rent forgiveness
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At least 30% of funds must go to businesses with six or fewer employees, and the commissioner must report on program outcomes by December 31, 2026
Legislative Description
Relief program for small businesses negatively impacted by federal enforcement activity established, report required, and money appropriated.
Last Action
Introduction and first reading, referred to Workforce, Labor, and Economic Development Finance and Policy
3/16/2026