Minnesota SF5059 temporarily modifies restrictions on local government loan repayment funds, allowing a one-time transfer of 20% to the state general.
Minnesota SF5059 temporarily 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 to transfer 20% of uncommitted funds to the state general fund before June 30, 2027. The remaining 80% can be used as general purpose aid for any lawful purpose. The bill also requires a report on the use and distribution of these funds to be submitted by February 15, 2028.
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