1.1.................... moves to amend H.F. No. 5435 as follows:
1.2Page 1, after line 12, insert:

1.3    "Sec. .... [CORR24-01A] Minnesota Statutes 2022, section 5.001, subdivision 2, is amended
1.4to read:
1.5    Subd. 2. Business entity. "Business entity" means an organization that is formed under
1.6chapter 300, 301, 302A, 303, 308, 308A, 308B, 308C, 315, 317, 317A, 319, 319A, 321,
1.7322A, 322B, 322C, 323, or 323A and that has filed documents with the secretary of state.
1.8EFFECTIVE DATE.This section is effective August 1, 2025.

1.9    Sec. .... [CORR24-01B] Minnesota Statutes 2022, section 47.20, subdivision 2, is amended
1.10to read:
1.11    Subd. 2. Definitions. For the purposes of this section the terms defined in this subdivision
1.12have the meanings given them:
1.13(1) "Actual closing costs" mean reasonable charges for or sums paid for the following,
1.14whether or not retained by the mortgagee or lender:
1.15(a) Any insurance premiums including but not limited to premiums for title insurance,
1.16fire and extended coverage insurance, flood insurance, and private mortgage insurance, but
1.17excluding any charges or sums retained by the mortgagee or lender as self-insured retention.
1.18(b) Abstracting, title examination and search, and examination of public records.
1.19(c) The preparation and recording of any or all documents required by law or custom
1.20for closing a conventional or cooperative apartment loan.
2.1(d) Appraisal and survey of real property securing a conventional loan or real property
2.2owned by a cooperative apartment corporation of which a share or shares of stock or a
2.3membership certificate or certificates are to secure a cooperative apartment loan.
2.4(e) A single service charge, which includes any consideration, not otherwise specified
2.5herein as an "actual closing cost" paid by the borrower and received and retained by the
2.6lender for or related to the acquisition, making, refinancing or modification of a conventional
2.7or cooperative apartment loan, and also includes any consideration received by the lender
2.8for making a borrower's interest rate commitment or for making a borrower's loan
2.9commitment, whether or not an actual loan follows the commitment. The term service charge
2.10does not include forward commitment fees. The service charge shall not exceed one percent
2.11of the original bona fide principal amount of the conventional or cooperative apartment
2.12loan, except that in the case of a construction loan, the service charge shall not exceed two
2.13percent of the original bona fide principal amount of the loan. That portion of the service
2.14charge imposed because the loan is a construction loan shall be itemized and a copy of the
2.15itemization furnished the borrower. A lender shall not collect from a borrower the additional
2.16one percent service charge permitted for a construction loan if it does not perform the service
2.17for which the charge is imposed or if third parties perform and charge the borrower for the
2.18service for which the lender has imposed the charge.
2.19(f) Charges and fees necessary for or related to the transfer of real or personal property
2.20securing a conventional or cooperative apartment loan or the closing of a conventional or
2.21cooperative apartment loan paid by the borrower and received by any party other than the
2.22lender.
2.23(2) "Contract for deed" means an executory contract for the conveyance of real estate,
2.24the original principal amount of which is less than $300,000. A commitment for a contract
2.25for deed shall include an executed purchase agreement or earnest money contract wherein
2.26the seller agrees to finance any part or all of the purchase price by a contract for deed.
2.27(3) "Conventional loan" means a loan or advance of credit, other than a loan or advance
2.28of credit made by a credit union or made pursuant to section 334.011, to a noncorporate
2.29borrower in an original principal amount of less than $100,000, secured by a mortgage upon
2.30real property containing one or more residential units or upon which at the time the loan is
2.31made it is intended that one or more residential units are to be constructed, and which is not
2.32insured or guaranteed by the secretary of housing and urban development, by the
2.33administrator of veterans affairs, or by the administrator of the Farmers Home Administration,
2.34and which is not made pursuant to the authority granted in subdivision 1, clause (3) or (4).
2.35The term mortgage does not include contracts for deed or installment land contracts.
3.1(4) "Cooperative apartment loan" means a loan or advance of credit, other than a loan
3.2or advance of credit made by a credit union or made pursuant to section 334.011, to a
3.3noncorporate borrower in an original principal amount of less than $100,000, secured by a
3.4security interest on a share or shares of stock or a membership certificate or certificates
3.5issued to a stockholder or member by a cooperative apartment corporation, which may be
3.6accompanied by an assignment by way of security of the borrower's interest in the proprietary
3.7lease or occupancy agreement in property issued by the cooperative apartment corporation
3.8and which is not insured or guaranteed by the secretary of housing and urban development,
3.9by the administrator of veterans affairs, or by the administrator of the Farmers Home
3.10Administration.
3.11(5) "Cooperative apartment corporation" means a corporation or cooperative organized
3.12under chapter 308A, 308C, or 317A, the shareholders or members of which are entitled,
3.13solely by reason of their ownership of stock or membership certificates in the corporation
3.14or association, to occupy one or more residential units in a building owned or leased by the
3.15corporation or association.
3.16(6) "Forward commitment fee" means a fee or other consideration paid to a lender for
3.17the purpose of securing a binding forward commitment by or through the lender to make
3.18conventional loans to two or more credit worthy purchasers, including future purchasers,
3.19of residential units, or a fee or other consideration paid to a lender for the purpose of securing
3.20a binding forward commitment by or through the lender to make conventional loans to two
3.21or more credit worthy purchasers, including future purchasers, of units to be created out of
3.22existing structures pursuant to chapter 515B, or a fee or other consideration paid to a lender
3.23for the purpose of securing a binding forward commitment by or through the lender to make
3.24cooperative apartment loans to two or more credit worthy purchasers, including future
3.25purchasers, of a share or shares of stock or a membership certificate or certificates in a
3.26cooperative apartment corporation; provided, that the forward commitment rate of interest
3.27does not exceed the maximum lawful rate of interest effective as of the date the forward
3.28commitment is issued by the lender.
3.29(7) "Borrower's interest rate commitment" means a binding commitment made by a
3.30lender to a borrower wherein the lender agrees that, if a conventional or cooperative
3.31apartment loan is made following issuance of and pursuant to the commitment, the
3.32conventional or cooperative apartment loan shall be made at a rate of interest not in excess
3.33of the rate of interest agreed to in the commitment, provided that the rate of interest agreed
3.34to in the commitment is not in excess of the maximum lawful rate of interest effective as
3.35of the date the commitment is issued by the lender to the borrower.
4.1(8) "Borrower's loan commitment" means a binding commitment made by a lender to a
4.2borrower wherein the lender agrees to make a conventional or cooperative apartment loan
4.3pursuant to the provisions, including the interest rate, of the commitment, provided that the
4.4commitment rate of interest does not exceed the maximum lawful rate of interest effective
4.5as of the date the commitment is issued and the commitment when issued and agreed to
4.6shall constitute a legally binding obligation on the part of the mortgagee or lender to make
4.7a conventional or cooperative apartment loan within a specified time period in the future at
4.8a rate of interest not exceeding the maximum lawful rate of interest effective as of the date
4.9the commitment is issued by the lender to the borrower; provided that a lender who issues
4.10a borrower's loan commitment pursuant to the provisions of a forward commitment is
4.11authorized to issue the borrower's loan commitment at a rate of interest not to exceed the
4.12maximum lawful rate of interest effective as of the date the forward commitment is issued
4.13by the lender.
4.14(9) "Finance charge" means the total cost of a conventional or cooperative apartment
4.15loan including extensions or grant of credit regardless of the characterization of the same
4.16and includes interest, finders fees, and other charges levied by a lender directly or indirectly
4.17against the person obtaining the conventional or cooperative apartment loan or against a
4.18seller of real property securing a conventional loan or a seller of a share or shares of stock
4.19or a membership certificate or certificates in a cooperative apartment corporation securing
4.20a cooperative apartment loan, or any other party to the transaction except any actual closing
4.21costs and any forward commitment fee. The finance charges plus the actual closing costs
4.22and any forward commitment fee, charged by a lender shall include all charges made by a
4.23lender other than the principal of the conventional or cooperative apartment loan. The finance
4.24charge, with respect to wraparound mortgages, shall be computed based upon the face
4.25amount of the wraparound mortgage note, which face amount shall consist of the aggregate
4.26of those funds actually advanced by the wraparound lender and the total outstanding principal
4.27balances of the prior note or notes which have been made a part of the wraparound mortgage
4.28note.
4.29(10) "Lender" means any person making a conventional or cooperative apartment loan,
4.30or any person arranging financing for a conventional or cooperative apartment loan. The
4.31term also includes the holder or assignee at any time of a conventional or cooperative
4.32apartment loan.
4.33(11) "Loan yield" means the annual rate of return obtained by a lender over the term of
4.34a conventional or cooperative apartment loan and shall be computed as the annual percentage
4.35rate as computed in accordance with sections 226.5 (b), (c), and (d) of Regulation Z, Code
5.1of Federal Regulations, title 12, part 226, but using the definition of finance charge provided
5.2for in this subdivision. For purposes of this section, with respect to wraparound mortgages,
5.3the rate of interest or loan yield shall be based upon the principal balance set forth in the
5.4wraparound note and mortgage and shall not include any interest differential or yield
5.5differential between the stated interest rate on the wraparound mortgage and the stated
5.6interest rate on the one or more prior mortgages included in the stated loan amount on a
5.7wraparound note and mortgage.
5.8(12) "Person" means an individual, corporation, business trust, partnership or association
5.9or any other legal entity.
5.10(13) "Residential unit" means any structure used principally for residential purposes or
5.11any portion thereof, and includes a unit in a common interest community, a nonowner
5.12occupied residence, and any other type of residence regardless of whether the unit is used
5.13as a principal residence, secondary residence, vacation residence, or residence of some other
5.14denomination.
5.15(14) "Vendor" means any person or persons who agree to sell real estate and finance
5.16any part or all of the purchase price by a contract for deed. The term also includes the holder
5.17or assignee at any time of the vendor's interest in a contract for deed.
5.18EFFECTIVE DATE.This section is effective August 1, 2025.

5.19    Sec. .... [CORR24-01C] Minnesota Statutes 2022, section 65A.375, is amended to read:
5.2065A.375 RATES.
5.21The commissioner shall set the insurance rates for cooperative housing, organized under
5.22chapter 308A or 308C, and for neighborhood real estate trusts, characterized as nonprofit
5.23ownership of real estate with resident control. The rates must be actuarially sound. All other
5.24rates used by the Minnesota FAIR plan must be approved by the commissioner prior to use.
5.25EFFECTIVE DATE.This section is effective August 1, 2025.

5.26    Sec. .... [CORR24-01D] Minnesota Statutes 2023 Supplement, section 500.20, subdivision
5.272a, is amended to read:
5.28    Subd. 2a. Restriction of duration of condition. Except for any right to reenter or to
5.29repossess as provided in subdivision 3, all private covenants, conditions, or restrictions
5.30created by which the title or use of real property is affected, cease to be valid and operative
5.3130 years after the date of the deed, or other instrument, or the date of the probate of the will,
5.32creating them, and may be disregarded.
6.1This subdivision does not apply to covenants, conditions, or restrictions:
6.2(1) that were created before August 1, 1959, under which a person who owns or has an
6.3interest in real property against which the covenants, conditions, or restrictions have been
6.4filed claims a benefit of the covenant, condition, or restriction if the person records in the
6.5office of the county recorder or files in the office of the registrar of titles in the county in
6.6which the real estate affected is located, on or before March 30, 1989, a notice sworn to by
6.7the claimant or the claimant's agent or attorney: setting forth the name of the claimant;
6.8describing the real estate affected; describing the deed, instrument, or will creating the
6.9covenant, condition, or restriction; and stating that the covenant, condition, or restriction is
6.10not nominal and may not be disregarded under subdivision 1;
6.11(2) that are created by the declaration, bylaws, floor plans, or condominium plat of a
6.12condominium created before August 1, 1980, under chapter 515, or created on or after
6.13August 1, 1980, under chapter 515A or 515B, or by any amendments of the declaration,
6.14bylaws, floor plans, or condominium plat;
6.15(3) that are created by the articles of incorporation, bylaws, or proprietary leases of a
6.16cooperative association formed under chapter 308A or 308C;
6.17(4) that are created by a declaration or other instrument that authorizes and empowers
6.18a corporation of which the qualification for being a stockholder or member is ownership of
6.19certain parcels of real estate, to hold title to common real estate for the benefit of the parcels;
6.20(5) that are created by a deed, declaration, reservation, or other instrument by which one
6.21or more portions of a building, set of connecting or adjacent buildings, or complex or project
6.22of related buildings and structures share support, structural components, ingress and egress,
6.23or utility access with another portion or portions;
6.24(6) that were created after July 31, 1959, under which a person who owns or has an
6.25interest in real estate against which covenants, conditions, or restrictions have been filed
6.26claims a benefit of the covenants, conditions, or restrictions if the person records in the
6.27office of the county recorder or files in the office of the registrar of titles in the county in
6.28which the real estate affected is located during the period commencing on the 28th
6.29anniversary of the date of the deed or instrument, or the date of the probate of the will,
6.30creating them and ending on the 30th anniversary, a notice as described in clause (1);
6.31(7) that are created by a declaration or bylaws of a common interest community created
6.32under or governed by chapter 515B, or by any amendments thereto; or
7.1(8) that are created by a declaration or other instrument required by a government entity
7.2related to affordable housing.
7.3A notice filed in accordance with clause (1) or (6) delays application of this subdivision
7.4to the covenants, conditions, or restrictions for a period ending on the later of seven years
7.5after the date of filing of the notice, or until final judgment is entered in an action to determine
7.6the validity of the covenants, conditions, or restrictions, provided in the case of an action
7.7the summons and complaint must be served and a notice of lis pendens must be recorded
7.8in the office of the county recorder or filed in the office of the registrar of titles in each
7.9county in which the real estate affected is located within seven years after the date of
7.10recording or filing of the notice under clause (1) or (6).
7.11County recorders and registrars of titles shall accept for recording or filing a notice
7.12conforming with this subdivision and charge a fee corresponding with the fee charged for
7.13filing a notice of lis pendens of similar length. The notice may be discharged in the same
7.14manner as a notice of lis pendens and when discharged, together with the information
7.15included with it, ceases to constitute either actual or constructive notice.
7.16EFFECTIVE DATE.This section is effective August 1, 2025.

7.17    Sec. .... [CORR24-05] 2024 H.F. No. 4757, article 4, section 2, if enacted, is amended to
7.18read:

7.19    Sec. 2. [58B.051] REGISTRATION FOR LENDERS.
7.20(a) Beginning January 1, 2025, a lender must register with the commissioner as a lender
7.21before providing services in Minnesota. A lender must not offer or make a student loan to
7.22a resident of Minnesota without first registering with the commissioner as provided in this
7.23section.
7.24(b) A registration application must include:
7.25(1) the lender's name;
7.26(2) the lender's address;
7.27(3) the names of all officers, directors, owners, or other persons in control of an applicant,
7.28as defined in section 58B.02, subdivision 6; and
7.29(4) any other information the commissioner requires by rule.
7.30(c) Registration issued or renewed expires December 31 of each year. A lender must
7.31renew the lender's registration on an annual basis.
8.1(d) The commissioner may adopt and enforce:
8.2(1) registration procedures for lenders, which may include using the Nationwide
8.3Multistate Licensing System and Registry;
8.4(2) nonrefundable registration fees for lenders, which may include fees for using the
8.5Nationwide Multistate Licensing System and Registry, to be paid directly by the lender;
8.6(3) procedures and nonrefundable fees to renew a lender's registration, which may include
8.7fees for the renewed use of Nationwide Multistate Licensing System and Registry, to be
8.8paid directly by the lender; and
8.9(4) alternate registration procedures and nonrefundable fees for postsecondary education
8.10institutions that offer student loans.

8.11    Section 1. [CORR24-02] Minnesota Statutes 2022, section 325D.44, subdivision 1a, as
8.12added by Laws 2024, chapter 111, section 1, if enacted, is amended to read:
8.13    Subd. 1a. Advertisements, displays, or offers. (a) A person engages in a deceptive
8.14trade practice when, in the course of business, vocation, or occupation, the person advertises,
8.15displays, or offers a price for goods or services that does not include all mandatory fees or
8.16surcharges. If the person that disseminates an advertisement is independent of the advertiser,
8.17the person is not liable for the content of the advertisement.
8.18(b) For purposes of this subdivision, "mandatory fee" includes but is not limited to a fee
8.19or surcharge that:
8.20(1) must be paid in order to purchase the goods or services being advertised;
8.21(2) is not reasonably avoidable by the consumer; or
8.22(3) a reasonable person would expect to be included in the purchase of the goods or
8.23services being advertised.
8.24For the purposes of this subdivision, mandatory fee does not include taxes imposed by a
8.25government entity on the sale, use, purchase, receipt, or delivery of the goods or services.
8.26(c) A delivery platform is compliant with this subdivision if the platform satisfies all of
8.27the following requirements:
8.28(1) at the point when a consumer views and selects either a vendor or items for purchase,
8.29a delivery platform must display in a clear and conspicuous manner that an additional flat
8.30fee or percentage is charged. The disclosure must include the additional fee or percentage
8.31amount; and
9.1(2) after a consumer selects items for purchase, but prior to checkout, a delivery platform
9.2must display a subtotal page that itemizes the price of the menu items and the additional
9.3fee that is included in the total cost.
9.4(d) A person may charge a reasonable postage or shipping fee that is actually incurred
9.5by a consumer who has purchased a good that requires shipping.
9.6(e) Nothing in this subdivision prevents a person from offering goods or services at a
9.7discounted price from the advertised, displayed, or offered price.
9.8(f) A person offering goods or services in an auction where consumers can place bids
9.9on the goods or services and the total cost is indeterminable is compliant with this subdivision
9.10if the person discloses in a clear and conspicuous manner any mandatory fees associated
9.11with the transaction and that the total cost of the goods or services may vary.
9.12(g) A person offering services where the total cost of a service is determined by consumer
9.13selections and preferences, or where the total cost of the service relates to distance or time,
9.14is compliant with this subdivision if the person discloses in a clear and conspicuous manner
9.15(1) the factors that determine the total price, (2) any mandatory fees associated with the
9.16transaction, and (3) that the total cost of the services may vary.
9.17(h) A food or beverage service establishment, including a hotel, is compliant with this
9.18subdivision if, in every offer or advertisement for the purchase of a good or service that
9.19includes pricing information, the total price of the good or service being offered or advertised
9.20includes a clear and conspicuous disclosure of the percentage of any automatic and mandatory
9.21gratuities charged.
9.22(i) A person is compliant with this subdivision if the person providing broadband Internet
9.23access service on its own or as part of a bundle is compliant with the broadband consumer
9.24label requirements under Code of Federal Regulations, title 47, section 8.1(a).
9.25(j) A person is compliant with this subdivision if the person is compliant with the pricing
9.26requirements under adopted by the Federal Communications Commission in Report and
9.27Order FCC 24-29, pursuant to United States Code, title 47, section 552.
9.28(k) This subdivision is enforceable unless preempted by federal law.

10.1    Sec. .... [CORR24-06] 2024 H.F. No. 5216, article 16, section 14, if enacted, is amended
10.2to read:

10.3    Sec. 14. [559A.03] CONTRACTS FOR DEED INVOLVING INVESTOR SELLERS
10.4AND RESIDENTIAL REAL PROPERTY; DISCLOSURES.
10.5    Subdivision 1. Disclosures required. (a) In addition to the disclosures required under
10.6sections 513.52 to 513.61, an investor seller must deliver to a prospective purchaser the
10.7disclosures specified under this section and instructions for cancellation as provided under
10.8section 559A.04, subdivision 2, paragraph (b).
10.9(b) The disclosures must be affixed to the front of any purchase agreement executed
10.10between an investor seller and a prospective purchaser. The investor seller may not enter
10.11into a contract for deed with a prospective purchaser earlier than ten calendar days after the
10.12execution of the purchase agreement by all parties and provision by the investor seller of
10.13the disclosures required under this section and instructions for cancellation as required under
10.14section 559A.04, subdivision 2, paragraph (b).
10.15(c) If there is no purchase agreement, an investor seller must provide the disclosures
10.16required under this section to the prospective purchaser no less than ten calendar days before
10.17the prospective purchaser executes the contract for deed. The disclosures must be provided
10.18in a document separate from the contract for deed. The investor seller may not enter into a
10.19contract for deed with a prospective purchaser earlier than ten calendar days after providing
10.20the disclosures to the prospective purchaser.
10.21(d) The first page of the disclosures must contain the disclosures required in subdivisions
10.222, 3, and 4 of this section, in that order. The title must be centered, be in bold, capitalized,
10.23and underlined 20-point type, and read "IMPORTANT INFORMATION YOU NEED TO
10.24KNOW." The disclosures required under subdivisions 5 and 6 must follow in subsequent
10.25pages in that order.
10.26(e) The investor seller must acknowledge delivery, and the purchaser must acknowledge
10.27receipt, of the disclosures by signing and dating the disclosures. The acknowledged
10.28disclosures shall constitute prima facie evidence that the disclosures have been provided as
10.29required by this section.
10.30    Subd. 2. Disclosure of balloon payment. (a) The investor seller must disclose the
10.31amount and due date of, if any, all balloon payments. For purposes of disclosure of a balloon
10.32payment, the investor seller may assume that all prior scheduled payments were timely
11.1made and no prepayments were made. If there is more than one balloon payment due, each
11.2one must be listed separately.
11.3(b) The disclosure must be in the following form, with the title in 14-point type and the
11.4text in 12-point type:
11.6This contract contains a lump-sum balloon payment or several balloon payments. When
11.7the final balloon payment comes due, you may need to get mortgage or other financing to
11.8pay it off (or you will have to sell the property). Even if you are able to sell the property,
11.9you may not get back all the money you paid for it.
11.10If you can't come up with this large amount - even if you have made all your monthly
11.11payments - the seller can cancel the contract.

11.12	Amount of Balloon Payment	When Balloon Payment is Due
11.13	$ (amount)	(month, year)"

11.14    Subd. 3. Disclosure of price paid by investor seller to acquire property. (a) The
11.15investor seller must disclose to the purchaser the purchase price and the date of earliest
11.16acquisition of the property by the investor seller, unless the acquisition occurs more than
11.17two years prior to the execution of the contract for deed.
11.18(b) The disclosure must be in the following form, with the title in 14-point type and the
11.19text in 12-point type:
11.21Date Investor Seller Acquired Property:
11.22(date seller acquired ownership)
11.23Price Paid by Investor Seller to Acquire the Property:
11.24$ (total purchase price paid by seller to acquire ownership)
11.25Contract for Deed Purchase Price:
11.26$ (total sale price to the purchaser under the contract)"
11.27(c) For the purposes of this subdivision, unless the acquisition occurred more than one
11.28year two years prior to the execution of the contract for deed, the person who first acquires
11.29the property is deemed to be the same person as the investor seller where the person who
11.30first acquires the property:
12.1(1) is owned or controlled, in whole or in part, by the investor seller;
12.2(2) owns or controls, in whole or in part, the investor seller;
12.3(3) is under common ownership or control, in whole or in part, with the investor seller;
12.4(4) is a spouse, parent, child, sibling, grandparent, grandchild, uncle, aunt, niece, nephew,
12.5or cousin of the investor seller, or of the natural person who owns or controls, in whole or
12.6in part, the investor seller; or
12.7(5) is an entity owned or controlled, in whole or in part, by a person who is a spouse,
12.8parent, child, sibling, grandparent, grandchild, uncle, aunt, niece, nephew, or cousin of the
12.9investor seller, or of the natural person who owns or controls, in whole or in part, the investor
12.10seller.
12.11    Subd. 4. Disclosure of other essential terms. (a) An investor seller must disclose to
12.12the prospective purchaser the purchase price, the annual interest rate, the amount of any
12.13down payment, and whether the purchaser is responsible for any or all of the following:
12.14paying property taxes, acquiring homeowner's insurance, making repairs, and maintaining
12.15the property.
12.16(b) The disclosure must be in the following form, with the title in 14-point type and the
12.17text in 12-point type:

12.19	1. Purchase Price:	$ (price)
12.20	2. Annual Interest Rate:	(interest rate) %
12.21	3. Down payment:	$ (down payment)
12.22	4. Monthly/Period Installments:	$ (amount of installment payment)

12.235. Taxes, Homeowner's Insurance, Repairs and Maintenance:
12.24You (seller must circle one):

12.25	(a) DO	DO NOT	have to pay property taxes
12.26 12.27	(b) DO	DO NOT	have to pay homeowner's insurance
12.28 12.29	(c) ARE	ARE NOT	responsible for repairs and maintenance."

12.30    Subd. 5. General disclosure. (a) An investor seller must provide the prospective
12.31purchaser with a general disclosure about contracts for deeds as provided in this subdivision.
13.1(b) The disclosure must be in the following form, with the title in 18-point type, the titles
13.2of the sections in 14-point type and underlined, and the text of each section in 12-point type,
13.3with a double space between each section:
13.51. How Contracts for Deed Work
13.6A contract for deed is a complicated legal arrangement. Be sure you know exactly what
13.7you are getting into before you sign a contract for deed. A contract for deed is NOT a
13.8mortgage. Minnesota's foreclosure protections do NOT apply.
13.9You should get advice from a lawyer or the Minnesota Homeownership Center
13.10before you sign the contract. You can contact the Homeownership Center at
13.111-(866)-462-6466 or go to www.hocmn.org.
13.122. What If I Can't Make My Payments?
13.13If you don't make your monthly installment payment or the balloon payment, the seller
13.14can cancel the contract in only 120 days from the date you missed the payment. If the
13.15contract is canceled, you lose your home and all the money you have paid, including
13.16any down payment, all the monthly payments, and any improvements to the property
13.17you have made.
13.18If the contract contains a final lump-sum "balloon payment," you will need to get a
13.19mortgage or other financing to pay it off (or you will have to sell the property). If you
13.20can't come up with this large amount - even if you have made all your monthly payments
13.21- the seller can cancel the contract. Even if you are able to sell the property, you may not
13.22get back all the money you have paid for it.
13.233. BEFORE YOU SIGN, YOU SHOULD:
13.24A. Get an Independent, Professional Appraisal of the property to learn what it's worth
13.25and make sure you are not overpaying for the house.
13.26B. Get an Independent, Professional Inspection of the property because you will
13.27probably be responsible for maintaining and making repairs on the house.
13.28C. Buy Title Insurance from a title insurance company or ask a lawyer for a "title
13.29opinion" to address or minimize potential title problems.
13.304. YOUR RIGHTS BEFORE YOU SIGN
14.1A. Waiting Period After Getting Disclosures There is a 10 calendar day waiting period
14.2after you get these disclosures. The contract for deed cannot be signed by you or the seller
14.3during that 10 calendar day period.
14.4B. Canceling a Purchase Agreement You have 10 calendar days after you get these
14.5disclosures to cancel your purchase agreement and get back any money you paid."
14.6    Subd. 6. Amortization schedule. In a document separate from all others, an investor
14.7seller must provide to the prospective purchaser an amortization schedule consistent with
14.8the contract for deed, including the portion of each installment payment that will be applied
14.9to interest and to principal and the amount and due date of any balloon payments.
14.10    Subd. 7. Disclosures in other languages. If the contract was advertised or primarily
14.11negotiated with the purchaser in a language other than English, the investor seller must
14.12provide the disclosures required in this section in the language in which the contract was
14.13advertised or primarily negotiated.
14.14    Subd. 8. No waiver. The provisions of this section may not be waived.
14.15    Subd. 9. Effects of violation. Except as provided in section 559A.05, subdivision 2, a
14.16violation of this section has no effect on the validity of the contract for deed.
14.17EFFECTIVE DATE.This section is effective August 1, 2024, and applies to contracts
14.18for deed executed by all parties on or after that date.

14.19    Section 1. [CORR24-04] Laws 2024, chapter 100, section 24, is amended by adding an
14.20effective date to read:
14.21EFFECTIVE DATE.This section is effective the day following final enactment.
14.22EFFECTIVE DATE.This section is effective the day following final enactment.

14.23    Sec. .... [CORR24-07] REPEALER.
14.24Minnesota Statutes 2022, section 211B.06, is repealed.

14.25    Sec. .... [CORR24-08] 2024 S.F. No. 5289, article 1, section 6, if enacted, is amended to
14.26read:

14.27    Sec. 6. Laws 2023, chapter 53, article 20, section 2, subdivision 2, is amended to read:

14.28

Subd. 2.Business and Community Development

195,061,000

139,104,000

15.1	Appropriations by Fund
15.2	General	193,011,000	137,054,000
15.3	Remediation	700,000	700,000
15.4 15.5	Workforce Development	1,350,000	1,350,000

15.6(a) $2,287,000 each year is for the greater
15.7Minnesota business development public
15.8infrastructure grant program under Minnesota
15.9Statutes, section 116J.431. This appropriation
15.10is available until June 30, 2027.
15.11(b) $500,000 each year is for grants to small
15.12business development centers under Minnesota
15.13Statutes, section 116J.68. Money made
15.14available under this paragraph may be used to
15.15match funds under the federal Small Business
15.16Development Center (SBDC) program under
15.17United States Code, title 15, section 648, to
15.18provide consulting and technical services or
15.19to build additional SBDC network capacity to
15.20serve entrepreneurs and small businesses.
15.21(c) $2,500,000 the first year is for Launch
15.22Minnesota. This is a onetime appropriation.
15.23Of this amount:
15.24(1) $1,500,000 is for innovation grants to
15.25eligible Minnesota entrepreneurs or start-up
15.26businesses to assist with their operating needs;
15.27(2) $500,000 is for administration of Launch
15.28Minnesota; and
15.29(3) $500,000 is for grantee activities at Launch
15.30Minnesota.
15.31(d)(1) $500,000 each year is for grants to
15.32MNSBIR, Inc., to support moving scientific
15.33excellence and technological innovation from
15.34the lab to the market for start-ups and small
16.1businesses by securing federal research and
16.2development funding. The purpose of the grant
16.3is to build a strong Minnesota economy and
16.4stimulate the creation of novel products,
16.5services, and solutions in the private sector;
16.6strengthen the role of small business in
16.7meeting federal research and development
16.8needs; increase the commercial application of
16.9federally supported research results; and
16.10develop and increase the Minnesota
16.11workforce, especially by fostering and
16.12encouraging participation by small businesses
16.13owned by women and people who are Black,
16.14Indigenous, or people of color. This is a
16.15onetime appropriation.
16.16(2) MNSBIR, Inc., shall use the grant money
16.17to be the dedicated resource for federal
16.18research and development for small businesses
16.19of up to 500 employees statewide to support
16.20research and commercialization of novel ideas,
16.21concepts, and projects into cutting-edge
16.22products and services for worldwide economic
16.23impact. MNSBIR, Inc., shall use grant money
16.24to:
16.25(i) assist small businesses in securing federal
16.26research and development funding, including
16.27the Small Business Innovation Research and
16.28Small Business Technology Transfer programs
16.29and other federal research and development
16.30funding opportunities;
16.31(ii) support technology transfer and
16.32commercialization from the University of
16.33Minnesota, Mayo Clinic, and federal
16.34laboratories;
16.35(iii) partner with large businesses;
17.1(iv) conduct statewide outreach, education,
17.2and training on federal rules, regulations, and
17.3requirements;
17.4(v) assist with scientific and technical writing;
17.5(vi) help manage federal grants and contracts;
17.6and
17.7(vii) support cost accounting and sole-source
17.8procurement opportunities.
17.9(e) $10,000,000 the first year is for the
17.10Minnesota Expanding Opportunity Fund
17.11Program under Minnesota Statutes, section
17.12116J.8733. This is a onetime appropriation
17.13and is available until June 30, 2025.
17.14(f) $6,425,000 each year is for the small
17.15business assistance partnerships program
17.16under Minnesota Statutes, section 116J.682.
17.17All grant awards shall be for two consecutive
17.18years. Grants shall be awarded in the first year.
17.19The department may use up to five percent of
17.20the appropriation for administrative purposes.
17.21The base for this appropriation is $2,725,000
17.22in fiscal year 2026 and each year thereafter.
17.23(g) $350,000 each year is for administration
17.24of the community energy transition office.
17.25(h) $5,000,000 each year is transferred from
17.26the general fund to the community energy
17.27transition account for grants under Minnesota
17.28Statutes, section 116J.55. This is a onetime
17.29transfer.
17.30(i) $1,772,000 each year is for contaminated
17.31site cleanup and development grants under
17.32Minnesota Statutes, sections 116J.551 to
18.1116J.558. This appropriation is available until
18.2expended.
18.3(j) $700,000 each year is from the remediation
18.4fund for contaminated site cleanup and
18.5development grants under Minnesota Statutes,
18.6sections 116J.551 to 116J.558. This
18.7appropriation is available until expended.
18.8(k) $389,000 each year is for the Center for
18.9Rural Policy and Development. The base for
18.10this appropriation is $139,000 in fiscal year
18.112026 and each year thereafter.
18.12(l) $25,000 each year is for the administration
18.13of state aid for the Destination Medical Center
18.14under Minnesota Statutes, sections 469.40 to
18.15469.47.
18.16(m) $875,000 each year is for the host
18.17community economic development program
18.18established in Minnesota Statutes, section
18.19116J.548.
18.20(n) $6,500,000 each year is for grants to local
18.21communities to increase the number of quality
18.22child care providers to support economic
18.23development. Fifty percent of grant money
18.24must go to communities located outside the
18.25seven-county metropolitan area as defined in
18.26Minnesota Statutes, section 473.121,
18.27subdivision 2. The base for this appropriation
18.28is $1,500,000 in fiscal year 2026 and each year
18.29thereafter.
18.30Grant recipients must obtain a 50 percent
18.31nonstate match to grant money in either cash
18.32or in-kind contribution, unless the
18.33commissioner waives the requirement. Grant
18.34money available under this subdivision must
19.1be used to implement projects to reduce the
19.2child care shortage in the state, including but
19.3not limited to funding for child care business
19.4start-ups or expansion, training, facility
19.5modifications, direct subsidies or incentives
19.6to retain employees, or improvements required
19.7for licensing, and assistance with licensing
19.8and other regulatory requirements. In awarding
19.9grants, the commissioner must give priority
19.10to communities that have demonstrated a
19.11shortage of child care providers.
19.12Within one year of receiving grant money,
19.13grant recipients must report to the
19.14commissioner on the outcomes of the grant
19.15program, including but not limited to the
19.16number of new providers, the number of
19.17additional child care provider jobs created, the
19.18number of additional child care openings, and
19.19the amount of cash and in-kind local money
19.20invested. Within one month of all grant
19.21recipients reporting on program outcomes, the
19.22commissioner must report the grant recipients'
19.23outcomes to the chairs and ranking members
19.24of the legislative committees with jurisdiction
19.25over early learning and child care and
19.26economic development.
19.27(o) $500,000 each year is for the Office of
19.28Child Care Community Partnerships. Of this
19.29amount:
19.30(1) $450,000 each year is for administration
19.31of the Office of Child Care Community
19.32Partnerships; and
19.33(2) $50,000 each year is for the Labor Market
19.34Information Office to conduct research and
19.35analysis related to the child care industry.
20.1(p) $3,500,000 each year is for grants in equal
20.2amounts to each of the Minnesota Initiative
20.3Foundations. This appropriation is available
20.4until June 30, 2027. The base for this
20.5appropriation is $1,000,000 in fiscal year 2026
20.6and each year thereafter. The Minnesota
20.7Initiative Foundations must use grant money
20.8under this section to:
20.9(1) facilitate planning processes for rural
20.10communities resulting in a community solution
20.11action plan that guides decision making to
20.12sustain and increase the supply of quality child
20.13care in the region to support economic
20.14development;
20.15(2) engage the private sector to invest local
20.16resources to support the community solution
20.17action plan and ensure quality child care is a
20.18vital component of additional regional
20.19economic development planning processes;
20.20(3) provide locally based training and technical
20.21assistance to rural business owners
20.22individually or through a learning cohort.
20.23Access to financial and business development
20.24assistance must prepare child care businesses
20.25for quality engagement and improvement by
20.26stabilizing operations, leveraging funding from
20.27other sources, and fostering business acumen
20.28that allows child care businesses to plan for
20.29and afford the cost of providing quality child
20.30care; and
20.31(4) recruit child care programs to participate
20.32in quality rating and improvement
20.33measurement programs. The Minnesota
20.34Initiative Foundations must work with local
20.35partners to provide low-cost training,
21.1professional development opportunities, and
21.2continuing education curricula. The Minnesota
21.3Initiative Foundations must fund, through local
21.4partners, an enhanced level of coaching to
21.5rural child care providers to obtain a quality
21.6rating through measurement programs.
21.7(q) $8,000,000 each year is for the Minnesota
21.8job creation fund under Minnesota Statutes,
21.9section 116J.8748. Of this amount, the
21.10commissioner of employment and economic
21.11development may use up to three percent for
21.12administrative expenses. This appropriation
21.13is available until expended. Notwithstanding
21.14Minnesota Statutes, section 116J.8748, money
21.15appropriated for the job creation fund may be
21.16used for redevelopment under Minnesota
21.17Statutes, sections 116J.575 and 116J.5761, at
21.18the discretion of the commissioner.
21.19(r) $12,370,000 each year is for the Minnesota
21.20investment fund under Minnesota Statutes,
21.21section 116J.8731. Of this amount, the
21.22commissioner of employment and economic
21.23development may use up to three percent for
21.24administration and monitoring of the program.
21.25This appropriation is available until expended.
21.26Notwithstanding Minnesota Statutes, section
21.27116J.8731, money appropriated to the
21.28commissioner for the Minnesota investment
21.29fund may be used for the redevelopment
21.30program under Minnesota Statutes, sections
21.31116J.575 and 116J.5761, at the discretion of
21.32the commissioner. Grants under this paragraph
21.33are not subject to the grant amount limitation
21.34under Minnesota Statutes, section 116J.8731.
22.1(s) $4,246,000 each year is for the
22.2redevelopment program under Minnesota
22.3Statutes, sections 116J.575 and 116J.5761.
22.4The base for this appropriation is $2,246,000
22.5in fiscal year 2026 and each year thereafter.
22.6This appropriation is available until expended.
22.7(t) $1,000,000 each year is for the Minnesota
22.8emerging entrepreneur loan program under
22.9Minnesota Statutes, section 116M.18. Money
22.10available under this paragraph is for transfer
22.11into the emerging entrepreneur program
22.12special revenue fund account created under
22.13Minnesota Statutes, chapter 116M, and are
22.14available until expended. Of this amount, up
22.15to four percent is for administration and
22.16monitoring of the program.
22.17(u) $325,000 the first year is for the Minnesota
22.18Film and TV Board. The appropriation is
22.19available only upon receipt by the board of $1
22.20in matching contributions of money or in-kind
22.21contributions from nonstate sources for every
22.22$3 provided by this appropriation, except that
22.23up to $50,000 is available on July 1 even if
22.24the required matching contribution has not
22.25been received by that date. This is a onetime
22.26appropriation.
22.27(v) $12,000 each year is for a grant to the
22.28Upper Minnesota Film Office.
22.29(w) $500,000 the first year is for a grant to the
22.30Minnesota Film and TV Board for the film
22.31production jobs program under Minnesota
22.32Statutes, section 116U.26. This appropriation
22.33is available until June 30, 2027. This is a
22.34onetime appropriation.
23.1(x) $4,195,000 each year is for the Minnesota
23.2job skills partnership program under
23.3Minnesota Statutes, sections 116L.01 to
23.4116L.17. If the appropriation for either year
23.5is insufficient, the appropriation for the other
23.6year is available. This appropriation is
23.7available until expended.
23.8(y) $1,350,000 each year from the workforce
23.9development fund is for jobs training grants
23.10under Minnesota Statutes, section 116L.41.
23.11(z) $47,475,000 the first year and $50,475,000
23.12the second year are for the PROMISE grant
23.13program. This is a onetime appropriation and
23.14is available until June 30, 2027. Any
23.15unencumbered balance remaining at the end
23.16of the first year does not cancel but is available
23.17the second year. Of this amount:
23.18(1) $475,000 each year is for administration
23.19of the PROMISE grant program;
23.20(2) $7,500,000 each year is for grants in equal
23.21amounts to each of the Minnesota Initiative
23.22Foundations to serve businesses in greater
23.23Minnesota. Of this amount, $600,000 each
23.24year is for grants to businesses with less than
23.25$100,000 in revenue in the prior year; and
23.26(3) $39,500,000 the first year and $42,500,000
23.27the second year are for grants to the
23.28Neighborhood Development Center. Of this
23.29amount, the following amounts are designated
23.30for the following areas:
23.31(i) $16,000,000 each year is for North
23.32Minneapolis' West Broadway, Camden, or
23.33other Northside neighborhoods. Of this
23.34amount, $1,000,000 each year is for grants to
24.1businesses with less than $100,000 in revenue
24.2in the prior year;
24.3(ii) $12,500,000 the first year and $13,500,000
24.4each the second year is are for South
24.5Minneapolis' Lake Street, 38th and Chicago,
24.6Franklin, Nicollet, and Riverside corridors.
24.7Of this amount, $750,000 each year is for
24.8grants to businesses with less than $100,000
24.9in revenue in the prior year;
24.10(iii) $10,000,000 each year is for St. Paul's
24.11University Avenue, Midway, Eastside, or other
24.12St. Paul neighborhoods. Of this amount,
24.13$750,000 each year is for grants to businesses
24.14with less than $100,000 in revenue in the prior
24.15year;
24.16(iv) $1,000,000 the first year is for South
24.17Minneapolis' Hennepin Avenue Commercial
24.18corridor, South Hennepin Community
24.19corridor, and Uptown Special Service District;
24.20and
24.21(v) $3,000,000 the second year is for grants
24.22to businesses in the counties of Anoka, Carver,
24.23Dakota, Hennepin, Ramsey, Scott, and
24.24Washington, excluding the cities of
24.25Minneapolis and St. Paul.
24.26(aa) $15,150,000 each year is for the
24.27PROMISE loan program. This is a onetime
24.28appropriation and is available until June 30,
24.292027. Of this amount:
24.30(1) $150,000 each year is for administration
24.31of the PROMISE loan program;
24.32(2) $3,000,000 each year is for grants in equal
24.33amounts to each of the Minnesota Initiative
25.1Foundations to serve businesses in greater
25.2Minnesota; and
25.3(3) $12,000,000 each year is for grants to the
25.4Metropolitan Economic Development
25.5Association (MEDA). Of this amount, the
25.6following amounts are designated for the
25.7following areas:
25.8(i) $4,500,000 each year is for North
25.9Minneapolis' West Broadway, Camden, or
25.10other Northside neighborhoods;
25.11(ii) $4,500,000 each year is for South
25.12Minneapolis' Lake Street, 38th and Chicago,
25.13Franklin, Nicollet, and Riverside corridors;
25.14and
25.15(iii) $3,000,000 each year is for St. Paul's
25.16University Avenue, Midway, Eastside, or other
25.17St. Paul neighborhoods.
25.18(bb) $1,500,000 each year is for a grant to the
25.19Metropolitan Consortium of Community
25.20Developers for the community wealth-building
25.21grant program pilot project. Of this amount,
25.22up to two percent is for administration and
25.23monitoring of the community wealth-building
25.24grant program pilot project. This is a onetime
25.25appropriation.
25.26(cc) $250,000 each year is for the publication,
25.27dissemination, and use of labor market
25.28information under Minnesota Statutes, section
25.29116J.401.
25.30(dd) $5,000,000 the first year is for a grant to
25.31the Bloomington Port Authority to provide
25.32funding for the Expo 2027 host organization.
25.33The Bloomington Port Authority must enter
25.34into an agreement with the host organization
26.1over the use of money, which may be used for
26.2activities, including but not limited to
26.3finalizing the community dossier and staffing
26.4the host organization and for infrastructure
26.5design and planning, financial modeling,
26.6development planning and coordination of
26.7both real estate and public private partnerships,
26.8and reimbursement of costs the Bloomington
26.9Port Authority incurred. In selecting vendors
26.10and exhibitors for Expo 2027, the host
26.11organization shall prioritize outreach to,
26.12collaboration with, and inclusion of businesses
26.13that are majority owned by people of color,
26.14women, and people with disabilities. The host
26.15organization and Bloomington Port Authority
26.16may be reimbursed for expenses 90 days prior
26.17to encumbrance. This appropriation is
26.18contingent on approval of the project by the
26.19Bureau International des Expositions. If the
26.20project is not approved by the Bureau
26.21International des Expositions, the money shall
26.22transfer to the Minnesota investment fund
26.23under Minnesota Statutes, section 116J.8731.
26.24Any unencumbered balance remaining at the
26.25end of the first year does not cancel but is
26.26available for the second year.
26.27(ee) $5,000,000 the first year is for a grant to
26.28the Neighborhood Development Center for
26.29small business programs, including training,
26.30lending, business services, and real estate
26.31programming; small business incubator
26.32development in the Twin Cities and outside
26.33the seven-county metropolitan area; and
26.34technical assistance activities for partners
26.35outside the seven-county metropolitan area;
26.36and for high-risk, character-based loan capital
27.1for nonrecourse loans. This is a onetime
27.2appropriation. Any unencumbered balance
27.3remaining at the end of the first year does not
27.4cancel but is available for the second year.
27.5(ff) $5,000,000 the first year is for transfer to
27.6the emerging developer fund account in the
27.7special revenue fund. Of this amount, up to
27.8five percent is for administration and
27.9monitoring of the emerging developer fund
27.10program under Minnesota Statutes, section
27.11116J.9926, and the remainder is for a grant to
27.12the Local Initiatives Support Corporation -
27.13Twin Cities to serve as a partner organization
27.14under the program. This is a onetime
27.15appropriation.
27.16(gg) $5,000,000 the first year is for the
27.17Canadian border counties economic relief
27.18program under article 5. Of this amount, up
27.19to $1,000,000 is for Tribal economic
27.20development and $2,100,000 is for a grant to
27.21Lake of the Woods County for the forgivable
27.22loan program for remote recreational
27.23businesses. This is a onetime appropriation
27.24and is available until June 30, 2026.
27.25(hh) $1,000,000 each year is for a grant to
27.26African Economic Development Solutions.
27.27This is a onetime appropriation and is
27.28available until June 30, 2026. Of this amount:
27.29(1) $500,000 each year is for a loan fund that
27.30must address pervasive economic inequities
27.31by supporting business ventures of
27.32entrepreneurs in the African immigrant
27.33community; and
28.1(2) $250,000 each year is for workforce
28.2development and technical assistance,
28.3including but not limited to business
28.4development, entrepreneur training, business
28.5technical assistance, loan packing, and
28.6community development services.
28.7(ii) $1,500,000 each year is for a grant to the
28.8Latino Economic Development Center. This
28.9is a onetime appropriation and is available
28.10until June 30, 2025. Of this amount:
28.11(1) $750,000 each year is to assist, support,
28.12finance, and launch microentrepreneurs by
28.13delivering training, workshops, and
28.14one-on-one consultations to businesses; and
28.15(2) $750,000 each year is to guide prospective
28.16entrepreneurs in their start-up process by
28.17introducing them to key business concepts,
28.18including business start-up readiness. Grant
28.19proceeds must be used to offer workshops on
28.20a variety of topics throughout the year,
28.21including finance, customer service,
28.22food-handler training, and food-safety
28.23certification. Grant proceeds may also be used
28.24to provide lending to business startups.
28.25(jj) $627,000 the first year is for a grant to
28.26Community and Economic Development
28.27Associates (CEDA) to provide funding for
28.28economic development technical assistance
28.29and economic development project grants to
28.30small communities across rural Minnesota and
28.31for CEDA to design, implement, market, and
28.32administer specific types of basic community
28.33and economic development programs tailored
28.34to individual community needs. Technical
28.35assistance grants shall be based on need and
29.1given to communities that are otherwise
29.2unable to afford these services. Of the amount
29.3appropriated, up to $270,000 may be used for
29.4economic development project implementation
29.5in conjunction with the technical assistance
29.6received. This is a onetime appropriation. Any
29.7unencumbered balance remaining at the end
29.8of the first year does not cancel but is available
29.9the second year.
29.10(kk) $2,000,000 the first year is for a grant to
29.11WomenVenture to:
29.12(1) support child care providers through
29.13business training and shared services programs
29.14and to create materials that could be used, free
29.15of charge, for start-up, expansion, and
29.16operation of child care businesses statewide,
29.17with the goal of helping new and existing child
29.18care businesses in underserved areas of the
29.19state become profitable and sustainable; and
29.20(2) support business expansion for women
29.21food entrepreneurs throughout Minnesota's
29.22food supply chain to help stabilize and
29.23strengthen their business operations, create
29.24distribution networks, offer technical
29.25assistance and support to beginning women
29.26food entrepreneurs, develop business plans,
29.27develop a workforce, research expansion
29.28strategies, and for other related activities.
29.29Eligible uses of the money include but are not
29.30limited to:
29.31(i) leasehold improvements;
29.32(ii) additions, alterations, remodeling, or
29.33renovations to rented space;
29.34(iii) inventory or supplies;
30.1(iv) machinery or equipment purchases;
30.2(v) working capital; and
30.3(vi) debt refinancing.
30.4Money distributed to entrepreneurs may be
30.5loans, forgivable loans, and grants. Of this
30.6amount, up to five percent may be used for
30.7the WomenVenture's technical assistance and
30.8administrative costs. This is a onetime
30.9appropriation and is available until June 30,
30.102026.
30.11By December 15, 2026, WomenVenture must
30.12submit a report to the chairs and ranking
30.13minority members of the legislative
30.14committees with jurisdiction over agriculture
30.15and employment and economic development.
30.16The report must include a summary of the uses
30.17of the appropriation, including the amount of
30.18the appropriation used for administration. The
30.19report must also provide a breakdown of the
30.20amount of funding used for loans, forgivable
30.21loans, and grants; information about the terms
30.22of the loans issued; a discussion of how money
30.23from repaid loans will be used; the number of
30.24entrepreneurs assisted; and a breakdown of
30.25how many entrepreneurs received assistance
30.26in each county.
30.27(ll) $2,000,000 the first year is for a grant to
30.28African Career, Education, and Resource, Inc.,
30.29for operational infrastructure and technical
30.30assistance to small businesses. This
30.31appropriation is available until June 30, 2025.
30.32(mm) $5,000,000 the first year is for a grant
30.33to the African Development Center to provide
30.34loans to purchase commercial real estate and
31.1to expand organizational infrastructure. This
31.2appropriation is available until June 30, 2025.
31.3Of this amount:
31.4(1) $2,800,000 is for loans to purchase
31.5commercial real estate targeted at African
31.6immigrant small business owners;
31.7(2) $364,000 is for loan loss reserves to
31.8support loan volume growth and attract
31.9additional capital;
31.10(3) $836,000 is for increasing organizational
31.11capacity;
31.12(4) $300,000 is for the safe 2 eat project of
31.13inclusive assistance with required restaurant
31.14licensing examinations; and
31.15(5) $700,000 is for a center for community
31.16resources for language and technology
31.17assistance for small businesses.
31.18(nn) $7,000,000 the first year is for grants to
31.19the Minnesota Initiative Foundations to
31.20capitalize their revolving loan funds, which
31.21address unmet financing needs of for-profit
31.22business start-ups, expansions, and ownership
31.23transitions; nonprofit organizations; and
31.24developers of housing to support the
31.25construction, rehabilitation, and conversion
31.26of housing units. Of the amount appropriated:
31.27(1) $1,000,000 is for a grant to the Southwest
31.28Initiative Foundation;
31.29(2) $1,000,000 is for a grant to the West
31.30Central Initiative Foundation;
31.31(3) $1,000,000 is for a grant to the Southern
31.32Minnesota Initiative Foundation;
32.1(4) $1,000,000 is for a grant to the Northwest
32.2Minnesota Foundation;
32.3(5) $2,000,000 is for a grant to the Initiative
32.4Foundation of which $1,000,000 is for
32.5redevelopment of the St. Cloud Youth and
32.6Family Center; and
32.7(6) $1,000,000 is for a grant to the Northland
32.8Foundation.
32.9(oo) $500,000 each year is for a grant to
32.10Enterprise Minnesota, Inc., to reach and
32.11deliver talent, leadership, employee retention,
32.12continuous improvement, strategy, quality
32.13management systems, revenue growth, and
32.14manufacturing peer-to-peer advisory services
32.15to small manufacturing companies employing
32.1635 or fewer full-time equivalent employees.
32.17This is a onetime appropriation. No later than
32.18February 1, 2025, and February 1, 2026,
32.19Enterprise Minnesota, Inc., must provide a
32.20report to the chairs and ranking minority
32.21members of the legislative committees with
32.22jurisdiction over economic development that
32.23includes:
32.24(1) the grants awarded during the past 12
32.25months;
32.26(2) the estimated financial impact of the grants
32.27awarded to each company receiving services
32.28under the program;
32.29(3) the actual financial impact of grants
32.30awarded during the past 24 months; and
32.31(4) the total amount of federal funds leveraged
32.32from the Manufacturing Extension Partnership
32.33at the United States Department of Commerce.
33.1(pp) $375,000 each year is for a grant to
33.2PFund Foundation to provide grants to
33.3LGBTQ+-owned small businesses and
33.4entrepreneurs. Of this amount, up to five
33.5percent may be used for PFund Foundation's
33.6technical assistance and administrative costs.
33.7This is a onetime appropriation and is
33.8available until June 30, 2026. To the extent
33.9practicable, money must be distributed by
33.10PFund Foundation as follows:
33.11(1) at least 33.3 percent to businesses owned
33.12by members of racial minority communities;
33.13and
33.14(2) at least 33.3 percent to businesses outside
33.15of the seven-county metropolitan area as
33.16defined in Minnesota Statutes, section
33.17473.121, subdivision 2.
33.18(qq) $125,000 each year is for a grant to
33.19Quorum to provide business support, training,
33.20development, technical assistance, and related
33.21activities for LGBTQ+-owned small
33.22businesses that are recipients of a PFund
33.23Foundation grant. Of this amount, up to five
33.24percent may be used for Quorum's technical
33.25assistance and administrative costs. This is a
33.26onetime appropriation and is available until
33.27June 30, 2026.
33.28(rr) $5,000,000 the first year is for a grant to
33.29the Metropolitan Economic Development
33.30Association (MEDA) for statewide business
33.31development and assistance services to
33.32minority-owned businesses. This is a onetime
33.33appropriation. Any unencumbered balance
33.34remaining at the end of the first year does not
34.1cancel but is available the second year. Of this
34.2amount:
34.3(1) $3,000,000 is for a revolving loan fund to
34.4provide additional minority-owned businesses
34.5with access to capital; and
34.6(2) $2,000,000 is for operating support
34.7activities related to business development and
34.8assistance services for minority business
34.9enterprises.
34.10By February 1, 2025, MEDA shall report to
34.11the commissioner and the chairs and ranking
34.12minority members of the legislative
34.13committees with jurisdiction over economic
34.14development policy and finance on the loans
34.15and operating support activities, including
34.16outcomes and expenditures, supported by the
34.17appropriation under this paragraph.
34.18(ss) $2,500,000 each year is for a grant to a
34.19Minnesota-based automotive component
34.20manufacturer and distributor specializing in
34.21electric vehicles and sensor technology that
34.22manufactures all of their parts onshore to
34.23expand their manufacturing. The grant
34.24recipient under this paragraph shall submit
34.25reports on the uses of the money appropriated,
34.26the number of jobs created due to the
34.27appropriation, wage information, and the city
34.28and state in which the additional
34.29manufacturing activity was located to the
34.30chairs and ranking minority members of the
34.31legislative committees with jurisdiction over
34.32economic development. An initial report shall
34.33be submitted by December 15, 2023, and a
34.34final report is due by December 15, 2025. This
34.35is a onetime appropriation.
35.1(tt)(1) $125,000 each year is for grants to the
35.2Latino Chamber of Commerce Minnesota to
35.3support the growth and expansion of small
35.4businesses statewide. Funds may be used for
35.5the cost of programming, outreach, staffing,
35.6and supplies. This is a onetime appropriation.
35.7(2) By January 15, 2026, the Latino Chamber
35.8of Commerce Minnesota must submit a report
35.9to the legislative committees with jurisdiction
35.10over economic development that details the
35.11use of grant funds and the grant's economic
35.12impact.
35.13(uu) $175,000 the first year is for a grant to
35.14the city of South St. Paul to study options for
35.15repurposing the 1927 American Legion
35.16Memorial Library after the property is no
35.17longer used as a library. This appropriation is
35.18available until the project is completed or
35.19abandoned, subject to Minnesota Statutes,
35.20section 16A.642.
35.21(vv) $250,000 the first year is for a grant to
35.22LatinoLEAD for organizational
35.23capacity-building.
35.24(ww) $80,000 the first year is for a grant to
35.25the Neighborhood Development Center for
35.26small business competitive grants to software
35.27companies working to improve employee
35.28engagement and workplace culture and to
35.29reduce turnover.
35.30(xx)(1) $3,000,000 in the first year is for a
35.31grant to the Center for Economic Inclusion for
35.32strategic, data-informed investments in job
35.33creation strategies that respond to the needs
35.34of underserved populations statewide. This
36.1may include forgivable loans, revenue-based
36.2financing, and equity investments for
36.3entrepreneurs with barriers to growth. Of this
36.4amount, up to five percent may be used for
36.5the center's technical assistance and
36.6administrative costs. This appropriation is
36.7available until June 30, 2025.
36.8(2) By January 15, 2026, the Center for
36.9Economic Inclusion shall submit a report on
36.10the use of grant funds, including any loans
36.11made, to the legislative committees with
36.12jurisdiction over economic development.
36.13(yy) $500,000 the first year is for a grant to
36.14the Asian Economic Development Association
36.15for asset building and financial empowerment
36.16for entrepreneurs and small business owners,
36.17small business development and technical
36.18assistance, and cultural placemaking. This is
36.19a onetime appropriation.
36.20(zz) $500,000 each year is for a grant to
36.21Isuroon to support primarily African
36.22immigrant women with entrepreneurial
36.23training to start, manage, and grow
36.24self-sustaining microbusinesses, develop
36.25incubator space for these businesses, and
36.26provide support with financial and language
36.27literacy, systems navigation to eliminate
36.28capital access disparities, marketing, and other
36.29technical assistance. This is a onetime
36.30appropriation.
36.31EFFECTIVE DATE.This section is effective the day following final enactment.

36.32    Sec. .... EFFECT OF APPROPRIATION OR TRANSFER.
36.33If an appropriation or transfer is enacted more than once during the 2024 regular
36.34legislative session, the appropriation or transfer must be given effect only once."
37.1Renumber the sections in sequence and correct the internal references
37.2Amend the title accordingly