SF4851
Nanoparticle iron nitride permanent magnet manufacturing facility appropriation
Legislative Session 94 (2025-2026)
Related bill: HF4683
AI Generated Summary
Purpose
The bill would provide a one-time state appropriation to help fund the construction and operation of a nanoparticle iron nitride permanent magnet manufacturing facility. The funds are intended to be used to match federal funding and support economic development in Minnesota.
Main Provisions
- Authorizes a one-time appropriation of $50,000,000 in fiscal year 2027 from the Minnesota forward fund account.
- Source and purpose: to match existing federal funding made available by the Consolidated Appropriations Act of 2026 (Public Law 11975) and to support the construction and operation of a nanoparticle iron nitride permanent magnet manufacturing facility.
- Administrative allowance: the commissioner of employment and economic development may use up to 2% of the appropriation for administration.
- Legal status: the appropriation is not subject to the requirements of Minnesota Statutes section 116J.8752 subdivision 5.
- Time frame: the funds are available until June 30, 2030.
- Unspent funds: any money that remains unspent is canceled to the general fund.
Funding Details and Administration
- Agency: commissioner of employment and economic development (DEED).
- Purpose alignment: to match federal funding and support the targeted manufacturing facility.
- Administration cap: up to 2% of the appropriation may be used for administrative costs.
Timing and Reversion
- Effective period: the appropriation is a one-time funding item.
- Deadline: funds must be spent or encumbered by June 30, 2030; unspent amounts revert to the general fund.
Relationship to Existing Law and Policy Impacts
- Exemption from certain state funding rules: the appropriation is not subject to the requirements of Minnesota Statutes section 116J.8752 subdivision 5.
- Focus on economic development and manufacturing: aims to attract federal funds and build a specialized magnet manufacturing facility, potentially creating jobs and advancing advanced manufacturing in Minnesota.
Potential Implementation Considerations
- Coordination with federal funding: the bill relies on matching federal funds, so timing and compliance with federal requirements will be important.
- Project scope and milestones: constructing and operating a magnet manufacturing facility will require detailed project plans and oversight.
Relevant Terms - nanoparticle iron nitride permanent magnet manufacturing facility - Minnesota forward fund - commissioner of employment and economic development - match existing federal funding - Consolidated Appropriations Act of 2026 - Public Law 11975 - one-time appropriation - administration (up to 2%) - available until June 30, 2030 - canceled to the general fund - Minnesota Statutes section 116J.8752 subdivision 5 - fiscal year 2027 - economic development - DEED
Bill text versions
- Introduction PDF PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| March 25, 2026 | Senate | Action | Introduction and first reading | ||
| March 25, 2026 | Senate | Action | Referred to | Jobs and Economic Development |
Citations
[
{
"analysis": {
"added": [
"Explicitly ties the state appropriation to federal funding provided by Public Law 11975."
],
"removed": [],
"summary": "The bill references federal funding made available by the Consolidated Appropriations Act of 2026 (Public Law 11975) to match the appropriation for the nanoparticle iron nitride permanent magnet facility.",
"modified": []
},
"citation": "Public Law 11975",
"subdivision": ""
},
{
"analysis": {
"added": [
"Adds an exemption from 116J.8752, subd. 5 for this specific appropriation."
],
"removed": [],
"summary": "The appropriation is not subject to the requirements of Minnesota Statutes section 116J.8752, subdivision 5.",
"modified": []
},
"citation": "116J.8752",
"subdivision": "subdivision 5"
}
]Progress through the legislative process
In Committee