Bill
HF 1107
Overview: HF 1107 - Black Women's Wealth Alliance grant funding provided, and money appropriated.Purpose and Intent: This bill aims to provide grant funding to the Black Women's We
Overview: HF 1107 - Black Women's Wealth Alliance grant funding provided, and money appropriated.
Purpose and Intent: This bill aims to provide grant funding to the Black Women's Wealth Alliance, an organization focused on promoting economic empowerment and wealth-building opportunities for Black women in Minnesota.
Key Provisions:
- Appropriates $5 million in funding to the Department of Employment and Economic Development (DEED) for the purpose of providing grants to the Black Women's Wealth Alliance.
- Requires the Black Women's Wealth Alliance to use the grant funds to support programs and initiatives that help Black women start and grow businesses, increase their financial literacy, and build generational wealth.
Affected Parties and Impacts:
- The primary beneficiaries of this bill would be Black women in Minnesota, who would have access to increased resources and support for entrepreneurship, financial education, and wealth-building.
- The Black Women's Wealth Alliance would receive the grant funding to expand and enhance its programs and services.
- The state of Minnesota would potentially see economic benefits through increased business activity and wealth generation among Black women.
Procedural and Timeline Considerations:
The bill has been introduced in the Minnesota House of Representatives and is currently awaiting further action. If passed, the $5 million in grant funding would be appropriated to DEED for distribution to the Black Women's Wealth Alliance.
Compiled from official sources — confirm details with the bill’s official record.
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