116J.993 DEFINITIONS. Subdivision 1. Scope. For the purposes of sections 116J.993 to 116J.995, the terms defined in this section have the meanings given them. Subd. 2. Benefit date. “Benefit date” means the date that the recipient receives the business subsidy. If the business subsidy involves the purchase, lease, or donation of physical equipment, then the […]
116J.994 REGULATING LOCAL AND STATE BUSINESS SUBSIDIES. Subdivision 1. Public purpose. A business subsidy must meet a public purpose which may include, but may not be limited to, increasing the tax base. Job retention may only be used as a public purpose in cases where job loss is specific and demonstrable. Subd. 2. Developing a […]
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 […]
116J.996 MILITARY RESERVIST ECONOMIC INJURY AND VETERAN-OWNED SMALL BUSINESS LOANS. Subdivision 1. Definitions. (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, […]
