Nanoparticle iron nitride permanent magnet manufacturing facility appropriation

Summary

The Senate bill allocates $50 million from the Minnesota Forward Fund for fiscal year 2027 to the commissioner of employment and economic development to match federal funding and construct a nanoparticle iron‑nitride permanent‑magnet manufacturing facility. Up to two percent of the money may be used for administrative costs, and any unspent balance reverts to the general fund after June 30 2030. The appropriation is a one‑time grant and is exempt from certain statutory spending limits.

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