1999 Minnesota Code
Chapters 474 - 477A Public Indebtedness, Borrowing
Chapter 474A Bond Allocation
Section 474A.045 Scoring system for manufacturing projects.

474A.045 Scoring system for manufacturing projects.

The following criteria must be used in determining the allocation of small issue bonds for manufacturing projects. The issuer must prepare and submit to the commissioner a public purpose scoring worksheet that presents the data and methods used in determining the total score under this section. The total score is the sum of the following:

(1) the number of direct new jobs in the state generated by the proposed project for the next two years per $100,000 of proposed allocation multiplied by 15;

(2) the number of direct existing jobs in the state multiplied by .625 due to the proposed project per $100,000 of proposed allocation multiplied by 15;

(3) the average hourly wage paid to employees by the proposed project, exclusive of benefits mandated by law, based on the following scale:

Wages paid per hour $ 8 $10 $12 $15 Non-Metro area points awarded 10 15 20 20 Seven-County Metro Area points awarded 0 10 15 20

For purposes of this section, the seven-county metropolitan area includes Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington;

(4) the quotient of the estimated total net increase in property taxes generated in the state by the project in the first full year of operation divided by the proposed bond allocation, multiplied by 500; and

(5) the seasonally unadjusted unemployment rate in the community where the proposed project is located measured as a percent of the state's unemployment rate, multiplied by ten.

The community seasonally unadjusted unemployment rate used in determining the points under clause (5) must be the most recent rate for the city or county in which the proposed project is located, as provided by the commissioner of economic security.

HIST: 1990 c 552 s 6; 1994 c 483 s 1; 1998 c 363 s 3; 1999 c 189 s 2