MN House Omnibus Jobs Bill 16 May 13

The Minnesota House passed the omnibus Jobs and Economic Development Finance Bill late Wednesday night. Local Democratic State Representative Clark Johnson says that the bill contains $30-million for the Minnesota Investment Fund, as well as $24-million for a job creation fund. Johnson says the bill also includes the largest business tax cut in the state’s history through a reduction in the rate that employers pay on unemployment insurance. It also increases the funding for the Minnesota Housing Finance Agency by $22-million, to $98-million in the next biennium. The money will be used for homelessness prevention, helping low income people with rent, and developing more affordable housing in Minnesota.