The bill proposes an appropriation of $1,000,000 from the general fund for fiscal year 2026 to Fortis Capital, a 501(c)(3) nonprofit organization. This funding is designated for a revolving loan fund aimed at providing risk-mitigating capital for commercial development 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 funds to be allocated for Fortis Capital's operating costs, and specifies that this is a one-time appropriation available until fully expended.

Furthermore, the bill mandates that Fortis Capital submit a report by December 31, 2028, to the chairs and ranking minority members of the legislative committees overseeing economic development. This report will detail how the grant funds were utilized and the outcomes of the program, ensuring accountability and transparency in the use of the appropriated funds.