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Legislative Update: May 8, 2018

Posted By Administration, Monday, May 7, 2018

Both the House and Senate have now passed their respective Omnibus Finance Bills which contain funding for the Department of Employment and Economic Development. Both Bills transfer funds from the Minnesota Investment Fund and the Job Creation Fund to other accounts at DEED or for earmarked projects. In both instances, we are seeing a reduction in the level of funding available generally for projects which will present opportunities for business development and job creation. At this point in the process, the Senate Bill retains more of the MIF and JCF funding for yet to be determined projects. The FY’19 funding levels for these programs in the House Bill have been reduced to $1.5 million for MIF and $4 million for JCF. The Senate funding levels for FY’19 would be at $8 million for MIF and $8.5 million for JCF.  

The Senate Tax Bill made its way through Committee and the Floor this week. One of the key provisions from EDAM’s perspective is another round of funding for the Angel Investment Tax Credit. Senator Paul Anderson (R-Plymouth) championed this initiative and was able to convince the Chairman to include the Angel Tax Credit in the Senate Bill. We will now need to work the Conference Committee to retain the $5 million allocation for the Tax Credit Program.

The House Bonding Bill emerged this week and cleared the Capital Investment Committee on Friday morning. The projects of greatest interest to EDAM members would include the Business Development Public Infrastructure Program (BDPI) at $3 million, the Transportation Economic Development Program (TEDP) at $10 million and the Innovative Business Development Infrastructure (IDBPI) at $2 million.  

In addition, the Bonding Bill included a substantial amount of funding for water infrastructure including $20 million to match U.S. EPA Capitalization Grants, $55 million for water infrastructure (which includes the Clean Water Program and the Drinking Water Program) and $45 million for wastewater infrastructure – Point Source Implementation Grants.  

The Conferees have been named for the Omnibus Finance Bills and the Tax Bills.

House:
Rep. Jim Knoblach (St. Cloud)
Rep. Jennifer Loon (Eden Prairie)
Rep. Paul Torkleson (Hanska – District includes New Ulm)
Rep. Pat Garofalo  (Farmington)
Rep. Gene Pelowski (Winona)
 
Senate:
Sen. Julie Rosen (Vernon Center – District includes New Ulm)
Sen. Michelle Benson (Ham Lake)
Sen. Mary Kiffmeyer (Big Lake)
Sen. Warren Limmer (Maple Grove)
Sen. Scott Newman (Hutchinson)

 

We expect that the Senate Capital Investment Bill will emerge by mid-week so that we can compare House and Senate provisions.  

We will keep you informed of all developments of interest and concern to EDAM as the process moves to its conclusion, scheduled for May 21st.  

If you have any questions regarding our reports, please feel free to contact the Fryberger office at (651) 221-1044 or send an email to kwalli@fryberger.com, srichie@fryberger.com or dtomassoni@fryberger.com.  

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