SF2872

Purpose of the Bill

The purpose of this bill is to allocate funds for capital investment, specifically providing financial support to a nonprofit organization for a shelter construction project in Minneapolis.

Main Provisions

• The bill proposes an appropriation from the general fund amounting to $10,000,000.
• The funds are designated for the fiscal year 2026.
• The appropriation is intended for the commissioner of employment and economic development to distribute a grant.
• The recipient of the grant is Isuroon, a recognized 501(c)(3) nonprofit organization.
• The grant is aimed at supporting the construction, furnishing, and equipping of a new shelter facility in Minneapolis.
• This grant is a one-time allocation and will remain available until the project is completed or abandoned, as per existing Minnesota law.

Significant Changes to Existing Law

• The bill introduces a specific allocation of funds to support a nonprofit organization for a construction project, which is a new appropriation not currently covered under existing allocations.

Relevant Terms

capital investment, grant, Isuroon, nonprofit organization, shelter facility, Minneapolis, appropriation, general fund, construction project, fiscal year 2026.