SF1798

Purpose

Provide a one-time appropriation to support the Neighborhood Development Center (NDC) so it can strengthen small business programs. The funds will help with training, lending, business services, and real estate initiatives, and may be used to assist organizations outside the seven-county metropolitan area. The money also supports one-on-one technical assistance for entrepreneurs and the operations and marketing of a cybersecurity center.

Main Provisions

• Amount and source: In fiscal year 2026, $2,250,000 from the general fund is appropriated to the commissioner of employment and economic development to grant to the Neighborhood Development Center (NDC).
• Uses of funds: To support NDC’s small business programs, including training, lending, business services, and real estate initiatives; to provide technical assistance for entrepreneurs; to help operate and market a cybersecurity center; and to help implement elements of NDC’s small business support model.
• Geographic scope: Funds may be used to assist organizations outside the seven-county metropolitan area with technical assistance and grants related to NDC’s model.
• Type of appropriation: This is a one-time appropriation.

Funding Details

• Unencumbered funds: Any money not spent by the end of the first year does not cancel and can be used in the second year.

Geographic Scope and Program Impact

• Allows outreach beyond the metro area to support NDC’s small business support model and related activities (training, lending, services, real estate, technical assistance, cybersecurity center operations).

Legal Status and Changes to Law

• This bill provides funding and program guidance but does not change existing law; it creates a funding mechanism via a one-time grant to NDC.

Relevant Terms general fund commissioner of employment and economic development Neighborhood Development Center (NDC) grant small business programs training lending business services real estate initiatives technical assistance one-on-one technical assistance entrepreneurs cybersecurity center seven-county metropolitan area outside the seven-county area one-time appropriation unencumbered balance carryover fiscal year 2026 appropriation