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A home rule charter or statutory city, county, or town that has uncommitted money received from repayment of funds awarded under the Minnesota Investment Fund and chooses to transfer 20 percent of the balance of that money to the state general fund before June 30, 2018, and then uses the remaining 80 percent of the uncommitted money as a general purpose aid for any lawful expenditure, shall submit to the chairs of the legislative committees with jurisdiction over economic development policy and finance an accounting and explanation of the use and distribution of the funds.
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