Minnesota SF3647 restricts grant issuance by requiring agencies to assess potential grantees' ability to perform and financial stability.

Minnesota SF3647 amends the state's grant management process by requiring agencies to conduct a preaward risk assessment before awarding any grant. This assessment must review the potential grantee's history, financial statements, and internal controls. For-profit businesses must provide federal and state tax returns, financial statements, and bankruptcy status. Nonprofits must submit IRS Form 990 or 990-EZ, or demonstrate appropriate internal financial controls if not applicable.

Minnesota SF3647 restricts grant issuance by requiring agencies to assess potential grantees' ability to perform and financial stability.

Minnesota SF3647 amends the state's grant management process by requiring agencies to conduct a preaward risk assessment before awarding any grant. This assessment must review the potential grantee's history, financial statements, and internal controls. For-profit businesses must provide federal and state tax returns, financial statements, and bankruptcy status. Nonprofits must submit IRS Form 990 or 990-EZ, or demonstrate appropriate internal financial controls if not applicable.