The bill appropriates funds for economic development and job retention efforts aimed at 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, both from the general fund for fiscal year 2026. The funds are designated for grants to support businesses with ten or fewer full-time employees, and can be utilized for various purposes including technical assistance, establishing revolving loan funds, issuing loans (including no-interest and forgivable loans), and providing grants for operating expenses.

The appropriations are intended to enhance collaboration with local organizations, such as the West Side Community Organization in St. Paul and the Residents of Color Collective in West St. Paul, to ensure that the economic development efforts are tailored to the needs of the communities. The funds will remain available until June 30, 2027, allowing for a sustained impact on small business support in these areas.