SF4535 is a bill in the Minnesota Legislature (94th Legislature 2025-2026): Minnesota business recovery loan program establishment and appropriation.

What is the status of SF4535?

In committee as of May 4, 2026. Latest action: Author added Hawj (May 7, 2026).

Who sponsored SF4535?

Bobby Champion (D), with 2 co-sponsors.

Where is the official record for SF4535?

On the Minnesota Legislature website: https://www.revisor.mn.gov/bills/bill.php?f=SF4535&y=2025&ssn=0&b=senate

Minnesota legislation · 94th Legislature 2025-2026

Minnesota SF4535: Minnesota business recovery loan program establishment and appropriation

Q: What does SF4535 do?

In its own words: A bill for an act relating to economic development; establishing a Minnesota business recovery loan program; canceling prior appropriations; appropriating and transferring money; requiring a report. new text begin [ADDED: Subdivision 1.] new text end new text begin [ADDED: Transfer.] new text end new text begin [ADDED: (a) $100,000,000 in fiscal year 2026 is transferred from the Minnesota forward fund account to the Minnesota business recovery loan account in the special revenue fund established in subdivision 3, for loans under this section. This is a onetime transfer. Money is available unti.

Status: In committee, May 4, 2026

What the bill says

A bill for an act relating to economic development; establishing a Minnesota business recovery loan program; canceling prior appropriations; appropriating and transferring money; requiring a report. new text begin [ADDED: Subdivision 1.] new text end new text begin [ADDED: Transfer.] new text end new text begin [ADDED: (a) $100,000,000 in fiscal year 2026 is transferred from the Minnesota forward fund account to the Minnesota business recovery loan account in the special revenue fund established in subdivision 3, for loans under this section. This is a onetime transfer. Money is available unti.

From the engrossed text, May 1, 2026:

A bill for an act relating to economic development; establishing a Minnesota business recovery loan program; canceling prior appropriations; appropriating and transferring money; requiring a report. new text begin [ADDED: Subdivision 1.] new text end new text begin [ADDED: Transfer.] new text end new text begin [ADDED: (a) $100,000,000 in fiscal year 2026 is transferred from the Minnesota forward fund account to the Minnesota business recovery loan account in the special revenue fund established in subdivision 3, for loans under this section. This is a onetime transfer. Money is available until June 30, 2028.] new text end new text begin [ADDED: (b) Of the amount transferred in paragraph (a):] new text end new text begin [ and] new text end new text begin [ADDED: (2) $82,000,000 is for grants to nonprofit corporations that meet the criteria under Minnesota Statutes, section 116M.18, subdivision 2, and are a currently certified nonprofit partner to provide zero-interest loans to businesses in the seven-county metropolitan area.] new text end new text begin [ADDED: (c) For purposes of this section, "partner organizations" or "partner" means nonprofit corporations that have current contracts to enroll small business loans in the Minnesota emerging entrepreneur program, the state small business credit initiative, or both, and that will provide loans under this section. For purposes of this section, "commissioner" means the …

Read the full official text

Minnesota SF4535: Minnesota business recovery loan program establishment and appropriation

What the bill says

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