piers109uk/MN-Statutes huggingface dataset:
116L.63 CRITERIA FOR DISTRIBUTION OF MONEY.
The commissioner, with the advice of the council, shall establish criteria for the distribution of state money for the purpose of section 116L.62. The criteria shall include requirements that:
(1) the program receiving state assistance:
(i) involve residents in the area to be served by the program in the planning and operation of the program; and
(ii) involve the business community in the area to be served by the program in its development and operation;
(2) the distribution of assistance among areas within the state be equitable, with priority being given to areas with high unemployment or underemployment;
(3) financial assistance under sections 116L.60 to 116L.64 to any program may not exceed 25 percent of the cost of the program including costs of administration; and
(4) a program receiving financial assistance has adequate internal administrative controls, accounting procedures, personnel standards, evaluation procedures, availability of in-service training and technical assistance programs, and other policies necessary to promote the effective use of state money.
The commissioner may make a distribution in excess of the limit prescribed in clause (3) if the commissioner determines that the excess distribution is necessary to further the objectives of sections 116L.60 and 116L.62.
116L.66 FIRST SOURCE AGREEMENTS.
A business or private enterprise receiving grants or loans from the state in amounts over $200,000 a year shall as part of the grant or loan agree to list any vacant or new positions with the state workforce centers.
The commissioner shall incorporate the provisions of this section into grant and loan agreements.
116J.8745 MICROENTERPRISE ENTREPRENEURIAL ASSISTANCE.
The commissioner of employment and economic development shall make grants to nonprofit organizations to provide technical assistance to individuals to support the startup and growth of self-employment and microbusinesses. Eligible businesses are microenterprises employing under five people plus the owner and requiring under $25,000 or no capital to start or expand the business.
Nonprofit organizations must apply for grants under this section following procedures established by the commissioner. To be eligible for a grant, an organization must demonstrate to the commissioner that it has the appropriate expertise. The commissioner shall give preference for grants to organizations that target nontraditional entrepreneurs such as women, members of a minority, low-income individuals, or persons seeking work who are currently on or recently removed from welfare assistance.
An application must include:
(1) the local need for microenterprise support;
(2) proposed criteria for business eligibility;
(3) proposals for identifying and serving eligible businesses;
(4) a description of technical assistance to be provided to eligible businesses;
(5) proposals to coordinate technical assistance with financial assistance;
(6) a demonstration of ability to collaborate with other agencies including educational and financial institutions; and
(7) project goals identifying the number of eligible businesses to be assisted with the state funds awarded under the grant.
Grant recipients must report to the commissioner by February 1 in each of the two years succeeding the year of receipt of the grant. The report must detail the number of customers served, the number of businesses started, stabilized, or expanded, the number of jobs created and retained, and business success rates. The commissioner shall report to the legislature on the microenterprise entrepreneurial assistance. The report shall contain an evaluation of the results, recommendations to continue or change the program, and a suggested level of funding.
116J.8747 JOB TRAINING PROGRAM GRANT.
The commissioner may provide a grant to a qualified job training program from money appropriated for the purposes of this section as follows:
(1) an $11,000 placement grant paid to a job training program upon placement in employment of a qualified graduate of the program; and
(2) an $11,000 retention grant paid to a job training program upon retention in employment of a qualified graduate of the program for at least one year.
To qualify for grants under this section, a job training program must satisfy the following requirements:
(1) the program must be operated by a nonprofit corporation that qualifies under section 501(c)(3) of the Internal Revenue Code;
(2) the program may spend up to $5,500 in total training per participant;
(3) the program must provide education and training in:
(i) basic skills, such as reading, writing, financial literacy, digital literacy, mathematics, and communications;
(ii) long-term plans for success including participant coaching for two years after placement;
(iii) soft skills, including skills critical to success on the job; and
(iv) access to internships, technology training, personal and emotional intelligence skill development, and other support services;
(4) the program may provide income supplements not to exceed $2,000 per participant, when needed, to participants for housing, counseling, tuition, and other basic needs;
(5) individuals served by the program must be 18 years of age or older as of the date of enrollment, and have household income in the six months immediately before entering the program that is 200 percent or less of the federal poverty guideline for Minnesota, based on family size; and
(6) the program must be certified by the commissioner of employment and economic development as meeting the requirements of this subdivision.
For purposes of a placement grant under this section, a qualified graduate is a graduate of a job training program qualifying under subdivision 2 who is placed in a job in Minnesota that pays at least the current state minimum wage. To qualify for a retention grant under this section for a retention fee, a job in which the graduate is retained must pay at least the current state minimum wage.
(a) A program certified by the commissioner under subdivision 2 must comply with the requirements of this subdivision.
(b) A program must maintain records for each qualified graduate. The records must include information sufficient to verify the graduate's eligibility under this section, identify the employer, and describe the job including its compensation rate and benefits.
(c) A program is subject to the reporting requirements under section 116L.98.
116L.667 RURAL CAREER COUNSELING COORDINATORS.
Each workforce development area located outside of the metropolitan area, as defined in section 473.121, subdivision 2, except for a service area that serves a single city outside of the metropolitan area, must have a career counseling coordinator who is responsible for improving coordination and communication of workforce development programs and services within the workforce development area, with other workforce development areas and career counseling coordinators, and with administering agencies. A career counseling coordinator may serve as the coordinator for up to two service areas.
A career counseling coordinator is responsible for:
(1) understanding the needs of existing, new, and prospective service area businesses in regard to workforce development programs, resources, and other services;
(2) connecting job seekers, secondary and higher education institutions, employers, and other stakeholders and partners;
(3) providing services to job seekers including career counseling, training, and work experience opportunities;
(4) assessing and compiling information about all workforce development programs and services offered in the assigned workforce development area, including adult basic education programs and programs and services at higher education institutions and kindergarten through grade 12 schools;
(5) making recommendations to the commissioner regarding ways to improve career counseling coordination, possible program changes, and new workforce programs or initiatives;
(6) sharing best practices and collaborating with other career counseling coordinators to promote and enable state-level coordination among workforce development programs and administering agencies including, but not limited to, the Departments of Employment and Economic Development, Education, and Labor and Industry, and the Office of Higher Education; and
(7) promoting available workforce development and career counseling programs and resources in the workforce development area.
The workforce council in each of the workforce development areas having a career counseling coordinator shall submit an annual report to the commissioner that includes, but is not limited to, a narrative of and the number of businesses, job seekers, and other stakeholders served by the career counseling coordinator function, an accounting of workforce development and career counseling programs and services offered in the assigned workforce development area, and any recommendations for changes to workforce development efforts in the workforce development area. Beginning January 15, 2016, and each year thereafter, the commissioner shall consolidate the reports and submit the consolidated report to the legislative committees with jurisdiction over economic development and workforce policy and finance.
116L.881 INDIAN TRIBE PLANS.
(a) The commissioner, in consultation with the commissioner of human services, shall review and comment on Indian tribe plans submitted to the commissioner for provision of employment and training services. Beginning April 15, 1991, and by April 15 of each second year thereafter, the Indian tribe shall prepare and submit to the commissioner a plan that covers the next two state fiscal years. Beginning April 15, 1992, and by April 15 of each second year thereafter, the Indian tribe shall prepare and submit to the commissioner an interim year plan update that deals with performance during the past state fiscal year and that covers changes anticipated for the second year of the biennium. The commissioner shall notify the Indian tribe of approval or disapproval of the plans and updates for existing programs within 60 days of submission.
(b) A plan for a new tribal program must be submitted at least 45 days before the program is to commence. The commissioner shall approve or disapprove the plan for new programs within 30 days of receipt.
(c) The tribal plan and update must contain information that has been established by the commissioner and the commissioner of human services for the tribal employment and training service program.
(d) The commissioner may recommend to the commissioner of human services withholding the distribution of employment and training money from a tribe whose plan or update is disapproved by the commissioner or a tribe that does not submit a plan or update by the date established in this section.
116J.876 DEFINITIONS.
For the purposes of this section and sections 116J.8761 to 116J.8769, the terms defined in this section have the meanings given them.
"Agreement" means an agreement between a lender and the commissioner under which a lender may participate in the program.
"Borrower" means the recipient of a loan which is, has been, or will be filed by the lender for enrollment under the program and meets the following requirements:
(1) the borrower is a corporation, partnership, joint venture, sole proprietorship, cooperative, or other entity, whether profit or nonprofit, which is authorized to conduct business in the state; and
(2) the borrower is not an executive officer, director, or principal shareholder of the lender, or a member of the immediate family of an executive officer, director, or principal shareholder of the lender, or an entity controlled by an executive officer, director, principal shareholder, or member of the immediate family.
"Capital access account" or "account" means an account created in the special revenue fund for the purposes of the capital access program.
"Claim" means any claim filed by the lender under section 116J.8767.
"Commissioner" means the commissioner of employment and economic development.
"Community development venture capital fund" means a regional or local venture capital fund that makes equity investments in small or emerging companies and has a financial as well as a social mission.
"Early loan" means an enrolled loan where at the time of enrollment the amount of previously enrolled loans made by the lender under the program was less than $5,000,000.
"Eligible loan" means a loan made by the lender to a borrower that meets the requirements of section 116J.8764.
"Enrolled loan" means a loan enrolled by the commissioner under the terms of section 116J.8764.
"Lender" means a financial institution as defined in section 13A.01, subdivision 2, that has entered into an agreement with the commissioner to participate in the program.
"Passive real estate ownership" means ownership of real estate for the purpose of deriving income from speculation, trade, or rentals, except that the term does not include (1) the ownership of that portion of real estate being used or intended to be used for the operation of the business of the owner of the real estate; or (2) ownership of real estate for the purpose of construction or renovation until the completion of the construction or renovation phase.
"Program" means the capital access program created by sections 116J.876 to 116J.8769.
"Reserve fund" means an administrative account maintained by the commissioner for funds accumulated under an agreement with the commissioner to cover losses sustained by the lender on enrolled loans.
116J.8761 CAPITAL ACCESS PROGRAM; CREATION; ADMINISTRATION.
(a) A capital access program is created in the Department of Employment and Economic Development. The purpose of the capital access program is to provide capital to businesses, particularly small and medium-sized businesses, to foster economic development. Capital may be provided in the form of equity investments for community development venture capital funds or loans for all other assistance under the program. Loans made under this program are to be slightly riskier than conventional loans, but still offer a high degree of soundness in connection with the capital access program.
(b) The commissioner has the power to administer the program, enter into contracts, and take action reasonably necessary to ensure compliance with the program. The lender shall provide the commissioner with information regarding its participation in the program as the commissioner may reasonably require. Upon notice to the lender, the commissioner may inspect the files of the lender relating to any loans enrolled under the program during normal business hours of the lender.
(c) A lender is eligible to participate in the program upon entering into an agreement with the commissioner governing the duties of the commissioner and the lender under the program.
116J.8763 ELIGIBLE LOANS.
Eligible loans may include:
(1) loans made for industrial, commercial, or agricultural purposes;
(2) refinancing of loans made for the purposes in clause (1); and
(3) lines of credit agreements established between the lender and borrower which are used for the purposes in clause (1).
Eligible loans must meet the following criteria:
(1) the lender has not made the loan in order to enroll in the program prior debt which is not covered under the program and which is or was owed by the borrower to the lender;
(2) the proceeds of the loan will not be used for that portion of a project or development devoted to housing;
(3) the proceeds of the loan will not be used to finance passive real estate ownership; and
(4) the proceeds of the loan will be used to finance a project or enterprise located within this state which will foster economic development in Minnesota.
An eligible loan may provide for an interest rate, fees, and other terms and conditions as the lender and borrower may agree. If the loan amount to be borrowed is determined by a commitment agreement that establishes a line of credit, the amount of the loan is the maximum amount available to the borrower under the agreement.
116L.976 EARLY WARNING SYSTEM.
(a) The commissioner shall encourage those business establishments considering a decision to effect a plant closing, substantial layoff, or relocation of operations located in this state to give notice of that decision as early as possible to the commissioner, the employees of the affected establishment, any employee organization representing the employees, and the local government unit in which the affected establishment is located. This notice shall be in addition to any notice required under the Worker Adjustment and Retraining Notification Act, United States Code, title 29, section 2101.
(b) For purposes of this section, "plant closing" means the announced or actual permanent or temporary shutdown of a single site of employment, or one or more facilities or operating units within a single site of employment, if the shutdown results in an employment loss at the single site of employment during any 30-day period for 50 or more employees excluding employees who work less than 20 hours per week.
An employer providing notice of a plant closing, substantial layoff, or relocation of operations under the Worker Adjustment and Retraining Notification Act, United States Code, title 29, section 2101, or under subdivision 1 must report to the commissioner the names, addresses, and occupations of the employees who will be or have been terminated.
116J.8762 COMMISSIONER; DUTIES.
The commissioner must:
(1) with respect to loans:
(i) market the capital access program to businesses and other persons in the state in cooperation with financial institutions and statewide associations representing financial institutions;
(ii) establish a reservation or allocation system so that lenders may reserve an allocation of funds in the account before or after the lender enters into a loan agreement or contract with a borrower; and
(iii) develop the program, in cooperation with financial institutions and statewide associations representing financial institutions, so that the degree of flexibility for the commissioner and the participating lenders is maximized and the state oversight of individual loans is minimized, and the fiscal integrity of the program is maintained; and
(2) with respect to equity investments:
(i) market the program to businesses and community development venture capital funds; and
(ii) enter into appropriate contracts and agreements with community development venture capital funds.
Except upon the exercise of the commissioner's right of subrogation under section 116J.8767, the commissioner has no legal or equitable interest in any collateral, security, or other right of recovery in connection with any loan enrolled in the program, and the commissioner's consent is not necessary for any amendment to the lender's loan documents.
116J.8767 SUBROGATION OF CLAIMS.
The commissioner may exercise the right of subrogation under this section if the commissioner determines, in the commissioner's discretion, that the lender has not exercised reasonable care and diligence in its collection activities with respect to the loan or that there is a reasonable basis for believing that the lender will not exercise reasonable care and diligence in the future with respect to the collection activities.
If the payment of a claim has fully covered the lender's loss on an enrolled loan, or if the payment of a claim when combined with any recovery from the borrower has fully covered the lender's loss, the commissioner, upon request, is subrogated to the rights of the lender with respect to any collateral, security, or other right of recovery in connection with the loan that has not been realized by the lender. The lender thereafter shall assign to the commissioner any right, title, or interest to any collateral, security, or other right of recovery in connection with the loan.
If an assignment has been made, the commissioner is not required to undertake any obligations of the lender under its loan documents, except for any obligations directly related to the commissioner's assigned rights of recovery in connection with the loan. The lender shall fulfill any other obligations it may have under the loan documents in the same manner and to the same degree as required had the assignment not been made. The lender shall provide the commissioner with all reasonable assistance the commissioner requests in proceeding with respect to any collateral, security, or other right of recovery, except that the lender need not incur any out-of-pocket expenses.
If the commissioner decides to exercise the right of subrogation in connection with an enrolled loan and would be entitled to exercise the right except for the fact that the lender's loss has not been fully covered, the commissioner may pay from money in the reserve fund an amount sufficient to fully cover the lender's loss even though the payment may cover a principal amount not covered under the program or not included in the lender's claim. Upon making the payment, the commissioner is subrogated to the rights of the lender.
Any money received by the commissioner as a result of enforcement actions taken with respect to any collateral, security, or other rights of recovery must be promptly deposited by the commissioner in the reserve fund, less any out-of-pocket expenses incurred by the commissioner in taking such enforcement actions.
116J.8768 EXCESS RESERVE FUNDS.
The lender shall file quarterly reports with the commissioner indicating the number and aggregate outstanding balance of all enrolled loans as of the end of each quarter. A quarterly report is not required for any quarter that ends with a balance in the reserve fund of zero, except that a calendar year-end report must be filed. In computing the aggregate outstanding balance of all enrolled loans, the balance of any loan may not be greater than the covered amount of the loan as enrolled.
(a) If reports filed under this section indicate that for the immediately preceding 24-month period the balance in the reserve fund continually exceeded the aggregate outstanding balance of all enrolled loans, the commissioner may withdraw from the reserve fund, on or before the last day of the month for which a report is due, an amount not greater than the amount by which the reserve fund balance exceeded the aggregate outstanding balance of all enrolled loans as of the most recent report, unless the lender has provided to the commissioner adequate documentation that at some time during that 24-month period the aggregate outstanding balance of all enrolled loans exceeded the balance then in the reserve fund. Any amounts withdrawn from the reserve fund must be transferred to the account.
(b) If a report is not filed within 30 days of its original due date, the commissioner may withdraw from the reserve fund based on the commissioner's determination from an inspection of the lender's files an amount not greater than the amount by which the reserve fund balance exceeded the aggregate outstanding balance of all enrolled loans as of the date for which the report was required to be filed.
116J.8769 TERMINATION.
The commissioner may terminate the obligation to a lender to enroll loans under the program if the commissioner determines that the lender is not in substantial compliance with the requirements of the program. The termination takes effect on the date specified in the notice of termination, except that the termination does not apply to any loan made on or before the date on which the notice of termination is received by the lender. If the commissioner is terminating the enrollment of loans for all participating lenders under the program, the commissioner shall provide notice of at least 90 days to the lender. Any terminations under this section are prospective only and do not apply to any loans previously refinanced. After termination, the amount covered under the program may not be increased beyond the covered amount as previously enrolled.
116J.8770 EQUITY INVESTMENTS.
The commissioner may invest funds from the capital access account to make equity investments in community development venture capital funds for the purpose of providing capital for small and emerging businesses. The community development venture capital fund must have experience in equity investments with small businesses and the ability to raise private capital.
116J.8771 WAIVER.
The capital access program is exempt from section 16C.05, subdivision 2, paragraph (b).
116J.955 RURAL REHABILITATION REVOLVING ACCOUNT.
The rural rehabilitation account is in the special revenue fund. The money transferred to the state as a result of liquidating the Rural Rehabilitation Corporation Trust, and money derived from transfer of the trust to the state, must be credited to the rural rehabilitation account. The principal amount of the rural rehabilitation account must be invested by the state investment board. The income attributable to investment of the principal is appropriated to the commissioner for the purposes of Laws 1987, chapter 386, article 1.
The commissioner may use the rural rehabilitation account for the purposes that are allowed under the Minnesota Rural Rehabilitation Corporation's charter and agreement, as may be amended or modified by, the United States Secretary of Agriculture as provided in Public Law 499, 81st Congress, enacted May 3, 1950 and as allowed under Laws 1987, chapter 386, article 1. Not more than three percent of the combined book value of the Minnesota rural rehabilitation account and the regional revolving funds may be used for administrative purposes in a year without approval of the United States Secretary of Agriculture. Any funds used for administrative purposes may only be drawn from money remaining in the Minnesota rural rehabilitation account.
The authority, assets, books, and records held by the Minnesota Rural Rehabilitation Corporation and later by the state Executive Council under Public Law 499, 81st Congress, May 3, 1950, is transferred to the commissioner.
116J.9781 INVEST MINNESOTA.
The commissioner shall establish the Invest Minnesota marketing initiative. This initiative must focus on branding the state's economic development initiatives and promoting Minnesota business opportunities. The initiative may include measures to communicate the benefits of doing business in Minnesota to companies considering relocating, establishing a United States presence, or expanding.
116J.980 COMMUNITY DEVELOPMENT.
The Department of Employment and Economic Development shall:
(1) be responsible for administering all state community development and assistance programs, including the economic recovery account, the rural development programs, the Minnesota Public Facilities Authority loan and grant programs, and the enterprise zone program;
(2) be responsible for state administration of federally funded community development and assistance programs, including the small cities development grant program, the Minnesota cleanup revolving loan fund program created under the Brownfields Revitalization and Environmental Restoration Act of 2001, Public Law 107-118, title II, under the authority of the United States Environmental Protection Agency, and land and water conservation programs;
(3) provide technical assistance to rural communities for community development in cooperation with regional development commissions;
(4) coordinate the development and review of state rural development policies; and
(5) be responsible for coordinating community assistance and development programs in cooperation with regional development commissions.
The department may combine all related state and federal complement positions into general fund positions, to carry out the responsibilities under subdivision 1. The number of general fund positions must not exceed the aggregate number of all state and federal positions that are to be combined. Records of the actual number of employee hours charged to each state and federal account must be maintained for each general fund position.
The commissioner must coordinate with the commissioner of the Minnesota Housing Finance Agency to ensure that housing related grant applications for the Small Cities Community Development Block Grant Program under section 116J.401 are consistent with the agency's most recent housing affordability plan and do not duplicate existing state housing programs.
[Repealed, 2001 c 200 s 4]
116J.979 MINNESOTA STEP GRANTS.
The commissioner of employment and economic development shall create a State Trade and Export Promotion grants program, hereafter STEP grants, to provide financial and technical assistance to eligible Minnesota small businesses with an active interest in exporting products or services to foreign markets.
Recipients may apply, on an application devised by the commissioner, for up to $7,500 in reimbursement for approved export-development activities, including, but not limited to:
(1) participation in trade missions;
(2) export training;
(3) exhibition at trade shows or industry-specific events;
(4) translation of marketing materials;
(5) development of foreign language websites, Gold Key, or other business matchmaking services;
(6) company-specific international sales activities; and
(7) testing and certification required to sell products in foreign markets.
116J.976 STATE APPROVAL OF GOVERNMENT PROCUREMENT AGREEMENTS.
Any decision of the state to enter into government procurement agreements relating to United States trade agreements must be approved by the governor and the legislature.
116J.978 MINNESOTA TRADE OFFICES IN FOREIGN MARKETS.
(a) The commissioner of employment and economic development shall establish three new Minnesota Trade Offices in key foreign markets selected for their potential to increase Minnesota exports and attract foreign direct investment.
(b) The commissioner shall establish a performance rating system for the new offices established under this section and create specific annual goals for the offices to meet. The commissioner shall monitor activities of the office, including, but not limited to, the number of inquiries and projects received and completed, meetings arranged between Minnesota companies and potential investors, distributors, or customers, and agreements signed.
116J.9923 TELECOMMUTER FORWARD! CERTIFICATION.
In this section, "political subdivision" means a city, township, or county.
A political subdivision may apply to the commissioner of employment and economic development for certification as a Telecommuter Forward! Community. The commissioner of employment and economic development shall prescribe the form and manner for making an application. Before approving an application, the commissioner shall consider the application and the information in subdivision 3.
In addition to the application in subdivision 2, a political subdivision must adopt a resolution that does both of the following:
(1) states the political subdivision's support and commitment to promote the availability of telecommuting options; and
(2) provides for a single point of contact for coordinating telecommuting opportunities that has all of the following responsibilities:
(i) coordination and partnership with broadband providers, realtors, economic development professionals, employers, employees, and other telecommuting stakeholders;
(ii) collaboration with broadband providers and employers to identify, develop, and market telecommuter-capable broadband packages;
(iii) communication and partnership with broadband providers and economic development professionals to develop common goals;
(iv) promotion of telecommuter-friendly work spaces, such as business incubators with telecommuting spaces, if such a work space has been established in the political subdivision at the time the political subdivision adopts the resolution;
(v) familiarity with broadband mapping tools and other state-level resources;
(vi) maintaining regular communication with the state broadband office; and
(vii) making regular reports to the governing body of the political subdivision.
116J.995 ECONOMIC GRANTS.
An appropriation rider in an appropriation to the Department of Employment and Economic Development that specifies that the appropriation be granted to a particular business or class of businesses must contain a statement of the expected benefits associated with the grant. At a minimum, the statement must include goals for the number of jobs created or enhanced, wages paid, and the tax revenue increases due to the grant. The wage and job goals must contain specific goals to be attained within two years of the benefit date. The statement must specify the recipient's obligation if the recipient does not attain the goals. At a minimum, the statement must require a recipient failing to meet the job and wage goals to pay back the assistance plus interest to the Department of Employment and Economic Development provided that repayment may be prorated to reflect partial fulfillment of goals. The interest rate must be set at no less than the implicit price deflator as defined under section 116J.994, subdivision 6. The legislature, after a public hearing, may extend for up to one year the period for meeting the goals provided in the statement.
116O.01 CITATION.
Sections 116O.01 to 116O.061 may be cited as the "Enterprise Minnesota, Inc. Act."
116O.05 POWERS OF CORPORATION.
(a) The corporation has the powers granted to a business corporation by section 302A.161, subdivisions 3; 4; 5; 7; 8; 9; 11; 12; 13, except that the corporation may not act as a general partner in any partnership; 14; 15; 16; 17; 18; and 22.
(b) The state is not liable for the obligations of the corporation.
(c) Section 302A.041 applies to this chapter and the corporation in the same manner that it applies to business corporations established under chapter 302A.
(a) The primary duties of the corporation shall include:
(1) development of new products and processes for operational efficiency and excellence, enabling company growth; and
(2) business development services with technology utilization and application, primarily for small and medium-sized manufacturers.
(b) The corporation shall also:
(1) provide or provide for technology-related assistance to individuals, sole proprietorships, partnerships, corporations, other business entities, and nonprofit organizations; and
(2) not duplicate existing services or activities provided by other public and private organizations but shall build on the existing educational, business, and economic development infrastructure.
The corporation must publish in the State Register any guidelines, policies, or eligibility criteria prepared or adopted by the corporation for any of its financial or technology transfer programs.
On making a determination that the public policies and purposes of this chapter will be carried out to a greater extent than what might otherwise occur, the board may cause to be created and may delegate, assign, or transfer to one or more entities, including without limitation a corporation, nonprofit corporation, limited liability company, partnership, or limited partnership, any or all rights and duties, assets and liabilities, powers or authority created, authorized, or allowed under this chapter, except to the extent specifically limited by the constitution or by law.
116O.02 DEFINITIONS.
The definitions in this section apply to sections 116O.01 to 116O.15.
"Account" means the Minnesota technology account.
"Board" means the board of directors of Enterprise Minnesota, Inc.
"Corporation" means Enterprise Minnesota, Inc.
[Renumbered subd 1a]
"Greater Minnesota" means the area of Minnesota located outside of the metropolitan area as defined in section 473.121, subdivision 2.
"Technology-related assistance" means the application and utilization of technological information and technologies to assist in the development and production of new technology-related products or services or to increase the productivity or otherwise enhance the production or delivery of existing products or services. "Technology-related assistance" includes assistance in utilizing and developing processes and products that conserve energy.
116J.996 MILITARY RESERVIST ECONOMIC INJURY AND VETERAN-OWNED SMALL BUSINESS LOANS.
(a) The definitions in this subdivision apply to this section.
(b) "Active service" has the meaning given in section 190.05.
(c) "Commissioner" means the commissioner of employment and economic development.
(d) "Eligible business" means a small business, as defined in section 645.445, that was operating in Minnesota on the date a military reservist received orders for active service.
(e) "Essential employee" means a military reservist who is an owner or employee of an eligible business and whose managerial or technical expertise is critical to the day-to-day operation of the eligible business.
(f) "Military reservist" means a member of the reserve component of the armed forces.
(g) "Reserve component of the armed forces" has the meaning given it in United States Code, title 10, section 101(c).
(h) "Substantial economic injury" means an economic harm to an eligible business that results in the inability of the eligible business to:
(1) meet its obligations as they mature;
(2) pay its ordinary and necessary operating expenses; or
(3) manufacture, produce, market, or provide a product or service ordinarily manufactured, produced, marketed, or provided by the eligible business.
(i) "Veteran-owned small business" means a small business, as defined in section 645.445, that is majority-owned and operated by a recently separated veteran.
The commissioner may make onetime, interest-free loans of up to $20,000 per borrower to:
(1) eligible businesses that have sustained or are likely to sustain substantial economic injury as a result of the call to active service for 180 days or more of an essential employee; or
(2) recently separated veterans who are veterans as defined in section 197.447, and have served in active military service, at any time on or after September 11, 2001, to start a veteran-owned small business.
Loans for economic injury must be made for the purpose of preventing, remedying, or ameliorating the substantial economic injury.
The commissioner shall use money appropriated for the purpose to establish a revolving loan account. All repayments of loans made under this section must be deposited into this account. Interest earned on money in the account accrues to the account. Money in the account is appropriated to the commissioner for purposes of the loan program created in this section, including costs incurred by the commissioner to establish and administer the program.
Using the expedited rulemaking procedures of section 14.389, the commissioner shall develop and publish expedited rules for loan applications, use of funds, needed collateral, terms of loans, and other details of military reservist economic injury and veteran-owned small business loans.
116O.011 NAME CHANGE.
Minnesota Technology, Inc., formerly known as the Greater Minnesota Corporation, is renamed Enterprise Minnesota, Inc.
116O.04 CORPORATE PERSONNEL.
The board shall appoint and set the compensation for a president, who serves as chief executive officer of the corporation, and who may appoint subordinate officers. The board may designate the president as its general agent. Subject to the control of the board, the president shall employ employees, consultants, and agents the president considers necessary. The staff of the corporation must include individuals with operational experience and knowledgeable in commercial and industrial financing, energy conservation, research and development, economic development, and general fiscal affairs. The board shall define the duties and designate the titles of the employees and agents.
Employees, officers, and directors of the corporation and programs governed by this chapter are not state employees, but are covered by section 3.736 and, at the option of the board, may participate in the state retirement plan and the state deferred compensation plan for employees in the unclassified service and an insurance plan administered by the commissioner of management and budget.
MS 2020 [Repealed, 2021 c 31 art 4 s 33]
(a) The corporation must adopt and periodically revise, if necessary, an affirmative action plan similar to the affirmative action plan under section 43A.19, subdivision 1. The corporation is subject to the audit and reporting requirements under section 43A.191, subdivision 3.
(b) Employees of the corporation are subject to the prohibition of political activities and required leave of absences under section 43A.32.
(c) Employees of the corporation are subject to the code of ethics requirements under section 43A.38.
116O.061 FINANCIAL ASSISTANCE.
(a) Financial assistance may be provided to sole proprietorships, corporations, other entities, or nonprofit organizations. Financial assistance includes, but is not limited to, assisting a qualified company or organization with business services and products that will enhance the operations of the entity.
(b) Preference and priority will be given to business entities that are expanding their operations in Minnesota. Priority will be assigned to:
(1) projects whose return, in economic benefits, are most substantial and clear;
(2) projects whose outcomes are best accelerated through internal resources of the corporation; and
(3) companies and organizations not typically able to leverage external assistance.
(c) The corporation may enter into agreements with, or solicit grants from, other organizations to jointly promote:
(1) business improvements;
(2) the application of technology, energy conservation, new product development, and other initiatives leading to economic development; and
(3) job creation.
116R.01 DEFINITIONS.
The definitions in this section apply to sections 116R.01 to 116R.15.
"Bonds" means the bonds authorized under section 116R.02, subdivision 1, or bonds issued to refund these bonds, except for deficiency bonds.
"Commissioner" means the commissioner of management and budget.
"Corporate headquarters" means the principal office from which the business of the corporation is conducted and the principal office of the chief executive officer of the corporation.
"Deficiency bonds" means the bonds authorized under section 116R.13, subdivision 3, or bonds issued to refund these bonds.
"Project" means the facilities or any property described in section 116R.02, subdivision 5.
"Related person" means any guarantor of the obligations of the lessee under the lease of a project and any other person whose relation to the lessee or the guarantor is that of a related person as defined in section 147 (a)(2) of the Internal Revenue Code of 1986, as amended through December 31, 1990, and whose financial condition the commissioner determines to be material for the purposes of carrying out the due diligence duties under section 116R.02.
"State guaranteed bonds" means all outstanding bonds secured as provided in section 116R.02, subdivision 4, paragraph (a).
"Cash collateral" means cash or securities issued or unconditionally guaranteed as to payment of principal and interest by the United States of America and maturing or callable at the option of the holder within two years.
116S.01 DEFINITIONS.
The definitions in this section apply to this chapter.
"Board" means the Board of Directors of Minnesota Business Finance, Inc.
"Corporation" means Minnesota Business Finance, Inc.
116R.03 GENERAL POWERS.
For the purpose of exercising the specific powers authorized under sections 116R.01 to 116R.15 and effectuating the other purposes of sections 116R.01 to 116R.15, the commissioner may:
(1) acquire, hold, pledge, assign, lease, or dispose of real or personal property or any interest in property, including a mortgage or security interest in a facility described in section 116R.02, subdivision 5;
(2) enter into agreements, contracts, or other transactions with any federal or state agency, any person and any domestic or foreign partnership, corporation, association, or organization, including contracts or agreements for administration and implementation of all or part of sections 116R.01 to 116R.15;
(3) acquire real property, or an interest therein, by purchase or foreclosure, where the acquisition is necessary or appropriate;
(4) enter into agreements with lenders, borrowers, or the issuers of securities for the purpose of regulating the development and management of any facility financed in whole or in part by the proceeds of bonds or loans;
(5) enter into agreements with other appropriate federal, state, or local governmental units;
(6) contract with, use, or employ any federal, state, regional, or local public or private agency or organization, legal counsel, financial advisors, investment bankers or others, upon terms the commissioner considers necessary or desirable, to assist in the exercise of any of the powers authorized under sections 116R.01 to 116R.15 and to carry out the objectives of sections 116R.01 to 116R.15 and may pay for the services from bond proceeds or otherwise available department money; and
(7) in the event of a default under the loan, lease agreement, or other revenue agreement, the facility, or any part of the facility, may be leased or sold to another person for any lawful purpose. The lease or sale is subject to the approval of the commissioner if there are bonds outstanding for financing the facility. The approval of the commissioner is not required if the bond trustee has taken control of the facility as a result of a default.
116S.03 CORPORATE PERSONNEL.
The board shall appoint and set the compensation for the executive director, who serves as chief executive officer of the corporation. The executive director's compensation may not exceed 95 percent of the salary of the governor set under section 15A.082. The board may designate the executive director as its general agent. Subject to the approval of the board, the executive director shall employ staff consultants and other agents necessary to carry out the mission of the corporation.
Employees, officers, and directors of the corporation are not state employees, but are covered by section 3.736 and, at the option of the board, may participate in the state retirement plan, the state deferred compensation plan for employees in the unclassified service, and an insurance plan administered by the commissioner of management and budget.
116S.04 POWERS OF CORPORATION.
(a) The corporation has the powers granted to a nonprofit corporation by section 317A.161, except as otherwise provided in this chapter.
(b) Except as specified in section 116S.02, subdivision 10, the state is not liable for the obligations of the corporation.
(c) Section 317A.161 applies to this chapter and the corporation in the same manner that it applies to business corporations established under chapter 317A.
(d) The corporation is a state agency for purposes of the following accounting and budgeting requirements:
(1) financial reports and other requirements under section 16A.06;
(2) the state budget system under sections 16A.095, 16A.10, and 16A.11;
(3) the state allotment and encumbrance, and accounting systems under sections 16A.14, subdivisions 2, 3, 4, and 5; and 16A.15, subdivisions 2 and 3; and
(4) indirect costs under section 16A.127.
(a) The corporation must qualify as a state development company for purposes of United States Code, title 15, section 697, as amended, and must comply with applicable Small Business Administration organizational, operational, regulatory, and reporting requirements.
(b) The corporation must also comply with the requirements of the Small Business Administration's section 504 loan program, United States Code, title 15, section 697a, as amended.
The governor shall appoint at least 25 members of the corporation, who must be representatives of government, private-sector lending institutions, community organizations, and business organizations, as described in Code of Federal Regulations, title 13, section 108.503-1(d), as amended. The membership shall select the members of the board of directors in accordance with section 116S.02, subdivision 3. The board may submit names of persons for consideration by the governor in filling vacancies in the membership under this subdivision.