Cities and other local governments could get a one-time opportunity to put Minnesota Investment Fund money toward retail stores, sports arenas or casinos.
Those uses are now prohibited from receiving local loans through the fund. But HF1620/ SF1456* would create a one-time exception if the local government first returns 20 percent of uncommitted fund money to the state’s General Fund. The remaining 80 percent would be freed of the fund’s statutory restrictions and could be used for any otherwise legal purpose.
Rep. Pat Garofalo (R-Farmington), who sponsors the bill with Sen. Jeremy Miller (R-Winona), said it would give “local units of government the voluntary option of retaining some of those funds.” He termed the portion required to be returned “a small assessment to the State of Minnesota.”
Passed 119-9, as amended, by the House Tuesday, it goes back to the Senate, where it passed 64-0 May 10.
The amendment would change what the local government could use the money for, from “any lawful economic development purpose, including community development planning and loans to retail businesses” to “any purposes not otherwise forbidden by law.”
A March 1, 2017, fiscal note estimates the cost to the General Fund at $5 million.
“This bill has a long journey in front of it,” said Rep. Tim Mahoney (DFL-St. Paul). He objects to some of the language in the single-paragraph measure, but added, “We’ll fix it in conference.”
'A very successful session?' Or, 'a debacle?' The reviews are mixed in the immediate aftermath of the 2018 session.
Introduced in March 2017 by Rep. Mary Kunesh-Podein (DFL-New Brighton) and Sen. Carolyn Laine (DFL-Columbia Heights), HF2470/SF2259, aims to stop the cycle of opioid misuse and addiction through education.
The conference committee tasked with hammering out the differences that divide the House and Senate on a laundry list of major issues met for the first time Tuesday afternoon.
Republican legislative majority offers mixed reactions to proposed tax system overhauls and DMV fixes.
The latest numbers are a $517 million swing from the November forecast
The state’s latest economic forecast projects a budget deficit of $188 million for the current two-year biennium, and a $586 million deficit for the 2020-21 biennium
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