Minnesota business recovery loan program established, report required, and money appropriated.

This bill creates the Minnesota Business Recovery Loan Program to help businesses that have suffered financial losses due to increased immigration enforcement activities in the state. It appropriates $100 million in fiscal year 2026, with $18 million designated for zero-interest loans to businesses in greater Minnesota and $82 million for zero-interest loans to businesses in the seven-county metropolitan area through nonprofit lenders. To qualify, businesses must be located in Minnesota, owned by state residents, demonstrate a revenue loss of more than 30 percent between enactment and December 1, 2025, and show that losses resulted from staffing shortages, reduced customer access, or other immigration enforcement-related factors. The program provides loans ranging from $25,000 to $200,000 depending on business size and location, which must be used exclusively for business operations in Minnesota and cannot be used to repay prior debt or for real estate speculation.