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SF 4592

Ignite Businesswomen Investment Group Foundation appropriation

2025-2026 Regular Session Introduced by Susan Pha

The bill would authorize state funds to the Ignite Businesswomen Investment Group Foundation to support programs expanding women-owned businesses and access to capital.

Withdrawn and re-referred to Jobs and Economic Development
#appropriations #employmentandeconomicdevelopmentdepartment
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Bill Summary · SF 4592

Summary of SF 4592 (Session 2025-2026) – Ignite Businesswomen Investment Group Foundation appropriation

Overview

SF 4592 proposes an appropriation to support the Ignite Businesswomen Investment Group Foundation. The bill’s stated aim is to provide funding to bolster programming, capacity, and activities that advance investment opportunities and entrepreneurial development led by or focused on women business owners and investors. The bill has a sponsor line that includes a co-sponsor: Susan Pha.

  • Jurisdiction: Minnesota
  • Title: Ignite Businesswomen Investment Group Foundation appropriation
  • Action History:
    • 2026-03-18: Introduction and first reading
    • 2026-03-18: Referred to Judiciary and Public Safety
    • 2026-03-23: Withdrawn and re-referred to Jobs and Economic Development

Note: The bill’s text is not provided here, so the summary reflects the stated title and the action history as the basis for understanding its purpose and potential content.

Purpose and intent

  • To appropriate state funds to the Ignite Businesswomen Investment Group Foundation.
  • To support initiatives that promote women-owned businesses, increase access to capital, and foster entrepreneurship among women.
  • To align with broader goals of economic development, inclusive growth, and workforce development by empowering women in business.

Key provisions and potential changes (inference based on title)

Because the exact text is not provided, the following are the types of provisions typically associated with an appropriation bill of this nature:
- Funding amount and source: A specific dollar amount designated for the Foundation, drawn from the state budget or a dedicated fund.
- Authorized uses of funds: Eligible program activities may include grants to women-owned startups, mentorship and training programs, investor education, capacity-building for investment groups, and outreach to underrepresented entrepreneurs.
- Reporting and accountability: Requirements for annual reporting on how funds are used, outcomes achieved (e.g., numbers of businesses supported, jobs created), and compliance with state financial management standards.
- Duration of funding: A defined fiscal period (e.g., fiscal year(s)) for which the appropriation is valid, with possibilities for renewal or sunset clauses.
- Matching or non-matching requirements: Whether the Foundation must contribute matching funds or leverage private investments to mobilize additional capital.
- Oversight and collaboration: Possible coordination with the Department of Employment and Economic Development (DEED) or other state agencies, along with potential advisory committees or interagency oversight.

Who would be affected

  • Ignite Businesswomen Investment Group Foundation: Direct recipient of state funds, responsible for program administration and reporting.
  • Women entrepreneurs and investors: Beneficiaries of grants, training, and investment opportunities facilitated by the Foundation.
  • Local businesses and communities: Indirect beneficiaries through expanded access to capital, mentorship, and economic development outcomes.
  • State agencies and auditors: Recipients of reporting requirements and fiscal oversight.

Procedural and timeline aspects

  • Introduction: The bill was introduced on 2026-03-18 and initially referred to Judiciary and Public Safety.
  • Re-referral: On 2026-03-18, it was re-referred (or additionally referred) to Jobs and Economic Development, indicating a shift to the committee most closely aligned with economic and business development policy.
  • Withdrawn and re-referred: On 2026-03-23, the bill was withdrawn and re-referred to Jobs and Economic Development, signaling a procedural adjustment likely to align hearings and amendments with economic development considerations and to consolidate review under the appropriate committee.
  • Next steps: The bill would proceed through committee hearings, potential amendments, and, if advanced, floor consideration in the Minnesota Senate. Potential companion or related bills may accompany budget deliberations.

Additional notes

  • The bill’s impact depends on the enacted appropriation amount and the defined uses of funds, which are not detailed in the provided excerpt.
  • The declared sponsor is a co-sponsor: Susan Pha, indicating legislative support within the chamber.

If you can provide the bill text or an official fiscal note, I can augment this summary with precise dollar figures, specific programmatic authorities, reporting deadlines, and enforcement mechanisms.

Compiled from official sources — confirm details with the bill’s official record.

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