HF 4179

Introduction - 90th Legislature (2017 - 2018)

Posted on 03/28/2018 01:50 p.m.

A bill for an act
relating to economic development; appropriating money for a grant to African
Economic Development Solutions (AEDS).

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin APPROPRIATION; AFRICAN ECONOMIC DEVELOPMENT
SOLUTIONS.
new text end

new text begin $2,000,000 in fiscal year 2019 is appropriated from the general fund to the commissioner
of employment and economic development for a grant to African Economic Development
Solutions (AEDS) for a revolving loan fund and technical assistance services to support
new and existing African immigrant entrepreneurs in order to address pervasive economic
inequities. This is onetime appropriation. Of this amount:
new text end

new text begin (1) $1,500,000 is for a business revolving loan fund; and
new text end

new text begin (2) $500,000 is for technical assistance including, but not limited to, business
development, entrepreneur training, business technical assistance, loan packing, and
community development services.
new text end