1.1.................... moves to amend S.F. No. 2314, the third engrossment, as amended, as
1.2follows:
1.3Page 104, after line 6, insert:
1.4 "Sec. 84. Minnesota Statutes 2018, section 116.993, subdivision 2, is amended to read:
1.5 Subd. 2.
Eligible borrower. To be eligible for a loan under this section, a borrower
1.6must:
1.7(1) be a small business corporation, sole proprietorship, partnership, or association;
1.8(2) be a potential emitter of pollutants to the air, ground, or water;
1.9(3) need capital for equipment purchases that will meet or exceed environmental
1.10regulations or need capital for site investigation and cleanup;
1.11(4) have less than
50 100 full-time
equivalent employees;
and
1.12(5) have an after tax profit of less than $500,000
; and.
1.13(6) have a net worth of less than $1,000,000.
1.14 Sec. 85. Minnesota Statutes 2018, section 116.993, subdivision 6, is amended to read:
1.15 Subd. 6.
Loan conditions. A loan made under this section must include:
1.16(1) an interest rate that is
four percent or at or below one-half the prime rate,
whichever
1.17is greater not to exceed five percent;
1.18(2) a term of payment of not more than seven years; and
1.19(3) an amount not less than $1,000 or exceeding
$50,000 $75,000."
1.20Renumber the sections in sequence and correct the internal references
1.21Amend the title accordingly