1.1.................... moves to amend H.F. No. 1823 as follows:
1.2Page 2, after line 6, insert:
1.3    "(e) "Economic impact assessment" means an economic model which analyzes
1.4whether the economic impact of the Minnesota business investment company's qualified
1.5investments exceed the cost of the tax credits awarded to the investors in the Minnesota
1.6business investment company and other administrative costs attributable to the Minnesota
1.7business investment company's participation in this program. Each economic impact
1.8assessment shall be conducted using an approved modeling methodology and shall be
1.9in a form approved by the department."
1.10Page 2, line 7, delete "(e)" and insert "(f)"
1.11Page 2, line 13, delete "(f)" and insert "(g)"
1.12Page 2, line 16, delete "(g)" and insert "(h)"
1.13Page 2, line 18, delete "(h)" and insert "(i)"
1.14Page 3, line 6, delete "(i)" and insert "(j)"
1.15Page 3, line 12, delete "(j)" and insert "(k)"
1.16Page 3, line 33, delete "(k)" and insert "(l)"
1.17Page 4, line 5, delete "(l)" and insert "(m)"
1.18Page 5, lines 34 and 35, delete "$100,000,000" and insert "$75,000,000"
1.19Page 9, delete lines 28 to 29 and insert "the Minnesota business investment
1.20company's economic impact assessment must demonstrate that the Minnesota business
1.21investment company's qualified investments exceed the cost of the tax credits awarded
1.22to the investors in the Minnesota business investment company and other administrative
1.23costs attributable to the Minnesota business investment company's participation in this
1.24program."
1.25Page 10, after line 2, insert:
1.26    "Subd. 7a. Economic impact assessment. On or before April 1 of each calendar
1.27year, each Minnesota business investment company shall submit an economic impact
2.1assessment. The department shall certify the results of the economic impact assessment
2.2within 60 days of receiving it or, in cases where the department determines that the results
2.3of the economic impact assessment are inaccurate, the department shall communicate the
2.4inaccuracies to the Minnesota business investment company and provide 30 days for the
2.5filing of an amended economic impact assessment."
2.6Page 10, line 21, delete "invested an amount"
2.7Page 10, delete line 22 and insert "produced an economic impact assessment that
2.8demonstrates that the Minnesota business investment company's qualified investments
2.9exceed the cost of the tax credits awarded to the investors in the Minnesota business
2.10investment company and other administrative costs attributable to the Minnesota business
2.11investment company's participation in this program,"
2.12Page 10, line 27, delete everything after "has" and insert "produced an economic
2.13impact assessment that demonstrates that the Minnesota business investment company's
2.14qualified investments exceed the cost of the tax credits awarded to the investors in the
2.15Minnesota business investment company and other administrative costs attributable to the
2.16Minnesota business investment company's participation in this program, the"
2.17Page 11, line 30, delete "and"
2.18Page 11, after line 30, insert:
2.19    "(11) the results of each Minnesota business investment company's economic
2.20impact assessment; and"
2.21Page 11, line 31, delete "(11)" and insert "(12)"