Minnesota HF5001: Restrictions on use of Minnesota investment fund local government loan repayment funds temporarily modified, and report required.

What the bill says

A bill for an act relating to economic development; temporarily modifying the restrictions on use of Minnesota investment fund local government loan repayment funds; requiring a report.

From the introduced text, April 16, 2026:

A bill for an act relating to economic development; temporarily modifying the restrictions on use of Minnesota investment fund local government loan repayment funds; requiring a report. Section 1. new text begin [ADDED: ONETIME EXCEPTION TO RESTRICTIONS ON USE OF MINNESOTA INVESTMENT FUND LOCAL GOVERNMENT LOAN REPAYMENT FUNDS.] new text end new text begin [ADDED: (a) Notwithstanding Minnesota Statutes, section 116J.8731, a home rule charter or statutory city, county, or town that has uncommitted money received from repayment of funding awarded under Minnesota Statutes, section 116J.8731, may choose to transfer 20 percent of the balance of the uncommitted money to the state general fund before June 30, 2027. Any local entity choosing to transfer the balance under this paragraph may then use the remaining 80 percent of the uncommitted money as a general purpose aid for any lawful expenditure.] new text end new text begin [ADDED: (b) By February 15, 2028, a home rule charter or statutory city, county, or town that exercises the option under paragraph (a) shall submit to the chairs and ranking minority members of the legislative committees with jurisdiction over economic development policy and finance an accounting and explanation of the use and distribution of the money.] new text end new text begin [ADDED: EFFECTIVE DATE.] new text end new text begin [ADDED: This section is …

Read the full official text

Sponsors

• Peggy Bennett (R) · primary sponsor

Latest actions

1. April 16, 2026: Introduction and first reading, referred to Workforce, Labor, and Economic Development Finance and Policy

Common questions

What is HF5001?

HF5001 is a bill in the Minnesota Legislature (94th Legislature 2025-2026): Restrictions on use of Minnesota investment fund local government loan repayment funds temporarily modified, and report required.

What does HF5001 do?

In its own words: A bill for an act relating to economic development; temporarily modifying the restrictions on use of Minnesota investment fund local government loan repayment funds; requiring a report.

What is the status of HF5001?

In committee as of April 16, 2026. Latest action: Introduction and first reading, referred to Workforce, Labor, and Economic Development Finance and Policy (April 16, 2026).

Who sponsored HF5001?

Peggy Bennett (R).

Where is the official record for HF5001?

On the Minnesota Legislature website: https://www.revisor.mn.gov/bills/bill.php?f=HF5001&y=2025&ssn=0&b=house