HF 4602 - Reduces the Number of Job Retainments for Verso in Duluth, Minnesota from 200 to 150 - Minnesota Key Vote
Linda Runbeck voted Yea (Passage) on this Legislation.
Timeline
- Executive Signed
- May 27, 2020
- Senate Bill Passed
- May 17, 2020
- House Bill Passed
- May 12, 2020
- Introduced
- April 28, 2020
Related Issues
Stage Details
Title: Reduces the Number of Job Retainments for Verso in Duluth, Minnesota from 200 to 150
Signed by Governor Tim Walz
Title: Reduces the Number of Job Retainments for Verso in Duluth, Minnesota from 200 to 150
Title: Reduces the Number of Job Retainments for Verso in Duluth, Minnesota from 200 to 150
Vote Smart's Synopsis:
Vote to pass a bill that reduces the number of job retainments for Verso Paper in Duluth, Minnesota from 200 to 150 as a condition for forgiveness they receive for their Minnesota Investment Fund loan.
Highlights:
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Appropriates $2 million to the city of Duluth, Minnesota for a loan to a Verso paper mill to retrofit their project and support the operation and manufacture of packaging paper grades (Sec. 1).
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Requires Verso Paper to spend $20 million on project activities before December 31, 2020, to be eligible to receive the aforementioned loan (Sec. 1).
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Specifies that the commissioner of employment shall forgive 25 percent of the loan each year after the second year during a 5 year period if the Verso paper mill has retained at least 150 full-time employees (Sec. 1).
Title: Reduces the Number of Job Retainments for Verso in Duluth, Minnesota from 200 to 150