The bill proposes an appropriation of $1,000,000 from the general fund to the commissioner of employment and economic development for a grant to Fortis Capital, a nonprofit organization. This funding is intended to establish a revolving loan fund aimed at providing risk-mitigating capital for commercial development activities in underserved communities and to entrepreneurs from disadvantaged groups across Minnesota. The bill emphasizes the importance of partnerships with private sector lenders and other nonstate funding sources to enhance the fund's impact. Additionally, it allows for up to ten percent of the grant to be allocated for Fortis Capital's operating costs, and the appropriation is designated as a one-time funding source available until fully expended.

Furthermore, the bill mandates that Fortis Capital submit a report by December 31, 2028, to the legislative committees overseeing economic development. This report will detail how the grant funds were utilized and the outcomes of the programs supported by the revolving loan fund.