The bill establishes a relief program aimed at supporting businesses in Minnesota that have suffered revenue losses due to a lack of snow and ice during the winter months of December 2023 to March 2024. The program, overseen by the commissioner of employment and economic development, will provide forgivable loans to eligible businesses that can demonstrate a revenue decline of at least 20 percent compared to the same period in the previous year. To qualify, businesses must be located in counties affected by drought disasters, document their revenue losses, and operate within specific industries as defined by the North American Industry Classification System.

Additionally, the bill outlines the application process for these loans, stipulating that funds must be allocated by December 30, 2024, and any unspent money must be returned to the general fund by June 30, 2025. Loans will be forgiven if the business remains operational for at least two years post-loan and adheres to repayment conditions. The bill also includes a one-time appropriation from the general fund to support the relief program, with the effective date of the provisions set for the day following final enactment.