HF3975

Purpose

• The bill provides funding to support a new small business and entrepreneurship facility called The Ruckus, intended to help second-stage entrepreneurs grow from startup to substantial revenue.

Main Provisions and Objectives

• Creates a one-time appropriation of 1,200,000 from the general fund in fiscal year 2027.
• Provides the grant to Neighborhood Development Center, via the commissioner of employment and economic development, to develop, equip, and launch The Ruckus.
• The facility and its programming are designed to support entrepreneurs as they move from startup to higher revenue growth.
• Uses of the funds include:
  • Designing and implementing core programs
  • Building entrepreneur cohorts
  • Establishing industry, retail, and capital partnerships
  • Purchasing equipment and tools so programming is fully operational when the facility opens

Funding and Timeline

• Amount: 1,200,000 from the general fund (one-time appropriation)
• Availability: Funds must be used by June 30, 2028

Use of Funds and Programs

• Programming must include:
  • A technology and business accelerator for founders ready to scale
  • A beauty and wellness production and market access program to support compliant product development and launch
  • A retail readiness initiative to help consumer brands enter and expand in retail markets

Impact on Existing Law / Significance

• This bill authorizes a new funding grant and program but does not specify changes to existing statutes beyond creating this one-time appropriation for The Ruckus.

Implementation and Oversight

• Funds are appropriated to the commissioner of employment and economic development for the Neighborhood Development Center’s program, with details on governance and reporting not specified in the excerpt.

Relevant Terms - general fund - appropriation - grant - Neighborhood Development Center - The Ruckus - second-stage entrepreneurs - startup - substantial revenue growth - technology and business accelerator - beauty and wellness production - market access program - retail readiness initiative - industry retail partnerships - capital partnerships - equipment and tools - entrepreneur cohorts - fiscal year 2027 - June 30, 2028