The bill proposes appropriations for economic development initiatives aimed at supporting small businesses in the cities of St. Paul and West St. Paul. Specifically, it allocates $3,000,000 to St. Paul and $2,000,000 to West St. Paul from the general fund for fiscal year 2026. These funds are designated for grants that will assist businesses with ten or fewer full-time employees, focusing on job retention and economic development efforts. The cities will collaborate with local organizations—the West Side Community Organization in St. Paul and the Residents of Color Collective in West St. Paul—to implement these initiatives.

The appropriated funds can be utilized for various purposes, including technical assistance, the establishment of revolving loan funds, and the issuance of loans (including no-interest and forgivable loans) as well as grants for operating expenses. Both appropriations are available until June 30, 2027, ensuring that the cities have sufficient time to deploy the funds effectively to support their small business communities.