The bill establishes a biennial budget for the Department of Employment and Economic Development and Explore Minnesota, allocating funds for various economic development programs and infrastructure improvements. Key appropriations include $1,787,000 annually for the Greater Minnesota business development public infrastructure grant program, $6,425,000 for the small business partnership program, and $8,000,000 for the Minnesota job creation fund. It also emphasizes funding for child care initiatives, with $1,500,000 each year for local community grants to increase quality child care providers and $1,000,000 for rural child care development. The bill modifies existing policies, requires accountability reports, and supports underserved communities through targeted investments and matching federal funds.

Additionally, the bill introduces several new programs, including the Office of Child Care Community Partnerships to enhance child care accessibility, and the Small Business Partnership Program to support community-based nonprofits in delivering business development services. It establishes "Launch Minnesota" to foster innovative technology and business startups, with an advisory board to guide its activities. The bill also creates a Capitol Area Community Vitality Task Force and allocates funds for community improvements and road projects. Overall, the legislation aims to enhance economic growth and support for small businesses, particularly those owned by marginalized populations, through strategic funding and comprehensive assistance programs.

Statutes affected:
Introduction: 116U.05, 116U.10, 116U.15, 116U.20, 116U.25, 116U.30, 116U.35, 116J.5492, 116J.8748, 116J.8749, 116L.361, 116L.362, 116L.364, 116L.56, 116L.561, 116L.562, 126C.43, 127A.45, 268.085
1st Engrossment: 116J.9924, 116J.871, 116J.8748
1st Engrossment: 116J.9924, 116J.871, 116J.8748