Minnesota HF5001 temporarily allows local governments to transfer a portion of uncommitted loan repayment funds to the state general fund.

Minnesota HF5001 modifies the restrictions on the use of Minnesota investment fund local government loan repayment funds. It allows a home rule charter or statutory city, county, or town with uncommitted money from repayment of funding awarded under Minnesota Statutes, section 116J.8731, to transfer 20 percent of the balance to the state general fund before June 30, 2027. The remaining 80 percent can then be used as general purpose aid for any lawful expenditure.

Minnesota HF5001 temporarily allows local governments to transfer a portion of uncommitted loan repayment funds to the state general fund.

Minnesota HF5001 modifies the restrictions on the use of Minnesota investment fund local government loan repayment funds. It allows a home rule charter or statutory city, county, or town with uncommitted money from repayment of funding awarded under Minnesota Statutes, section 116J.8731, to transfer 20 percent of the balance to the state general fund before June 30, 2027. The remaining 80 percent can then be used as general purpose aid for any lawful expenditure.