Reported to the Senate and First Read (S)
Summary
The bill repeals dozens of existing sections and creates new ones that govern the Industrial Development, Guarantee, Export Finance and Jobs Now funds. It clarifies that these funds are not state funds, sets rules for their administration, investment, and fee collection, and directs the commissioner of administration to allocate up to $12 million of newly‑calculated revenue to the Jobs Now Fund each year. The changes affect the state board that manages these funds and any businesses or projects seeking loans, grants, or other assistance.
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