My latest video update describes the $250 million House DFL property tax package delivers direct, targeted relief for up to one million Minnesotans. It includes $157 million for the Homestead Credit Refund, $15.5 million for the Renter’s Credit, $60 million for LGA, and $28 million for County Program Aid.
More than 300,000 homeowners (about three-fourths of filers) will see an increase on their property tax refund, with the average homeowners receiving an increase of $212. Over 60,000 renters will get a larger refund as well.
The package’s updated LGA distribution formula is more stable, easier to understand, and more predictable. Under the proposal, the new formula is need-based, meaning it provides the most aid to communities with the greatest need. The city of Northfield would see a $417,501 increase in LGA, helping maintain the kinds of quality services that Minnesotans expect and deserve.
This bill puts more money in the pockets of middle class families, allowing them to buy more products and services from local businesses and keep our economy on the road to recovery. At the end of the day, it will help make sure Minnesota remains a place where people want to live, work, and raise a family.
Another recently released bill aimed at growing the middle class is our $46 million jobs and economic development package.
One of the largest investments in the proposal is $20 million for the Minnesota Investment Fund (MIF), which helps businesses bring quality jobs to the state by delivering funds to Minnesota cities who can then offer incentives for businesses to come to their area. It also brings $33 in private investment for every $1 it loans out.
Another significant investment will be over $18 million for a job creation fund. These dollars would be allocated to the Department of Employment and Economic Development (DEED) which would then use the funding as a tool to help businesses make capital investments and create jobs.
Other investments in the jobs package include $1.5 million for the Minnesota Trade Office to help create business relationships that strengthen Minnesota’s economic output, $5 million for a ‘Fast Trac’ program that helps train entrepreneurs to have success in starting and growing their own business, and $2 million in one-time funding for the Minnesota Film and TV Board.
Although Minnesota’s economy is doing much better than most states, the House DFL jobs package is needed to put more people back to work so they can provide for their families. I’m hopeful we can pass this bill and keep our state on a path to long-term prosperity.
Another bill I’m keeping track of would dedicate $1.2 million in funding for the Mill Towns Trail. The construction of the trail was designated by the Legislature in 2000 as a recreational trail extending in to Faribault from the connection with Sakatah Singing Hills Trail to the cities of Dundas and Northfield. The Mill Towns Trail will create a State recreational trail system from Mankato to Red Wing. Our recreational trails and parks are a signature characteristic of our community and state. The completion of the Mill Towns Trail will be a jewel for Northfield and our surrounding communities.
I hope to hear from you over the coming weeks as we enter the final stretch of this year’s legislative session. You can reach me by phone at (651) 296-0171, by email at firstname.lastname@example.org, or by postal mail at 559 State Office Building, 100 Rev. Dr. Martin Luther King Jr. Blvd., Saint Paul, MN 55155.