House, Senate reach tentative agreement on small business grants
The Legislature is poised to pass a significant bill out of the gate during the special session. Based on information that came out of the Senate Jobs and Economic Development Committee hearing Thursday, the two chambers have reached an agreement on approving $62.5 million in small business emergency grants. These grants would make available up to $10,000 per qualifying employer to support payroll expenses, pay rent/mortgage, and pay bills incurred since March 1.
Of the $62.5 million, $31.25 million will be distributed to employers in Greater Minnesota via the six Initiative Foundations for their respective regions. It is unknown at this time if the dollars will be allocated equally among the six regions or if it will be distributed to each region based on population.