Promise Act Fact Sheet


PROVIDING RESOURCES, OPPORTUNITY, AND MAXIMIZING INVESTMENTS IN STRIVING ENTREPRENEURS ACT

THE PROMISE ACT IS INSPIRED BY THE VOICES, STORIES,

AND STRENGTH OF MINNESOTANS WHO ARE DEDICATED

TO REBUILDING OUR CITIES AND COMMUNITIES.

  • Create a special panel to review cases and provide direct compensation to impacted individuals.
  • Partner with cities and community organizations to create economic relief programs for impacted businesses and organizations.
  • Give local units of government flexibility and tools to prevent gentrification.
  • Direct the Minnesota Department of Commerce to assist business owners, and require insurance companies to notify the department of any rejected claims.
  • Help with the rising cost of leases for eligible residential and commercial properties.
  • Eliminate the sales tax on the purchase of construction materials used to rebuild damaged or destroyed properties.
  • Provide property and sales tax cuts for eligible properties.
  • Establish a Metropolitan Area Redevelopment Corporation to create a long-term plan for equity-driven redevelopment and transformation.

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