Nanoparticle iron nitride permanent magnet manufacturing facility funding provided, and money appropriated.

Summary

The bill allocates $50 million from the Minnesota Forward Fund for fiscal year 2027 to the commissioner of employment and economic development. The funds must be used to construct and operate a nanoparticle iron‑nitride permanent‑magnet manufacturing plant, matching existing federal money. Up to two percent may be spent on administration, and any unspent balance reverts to the general fund after June 30 2030.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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