The levy will now be refundable, unlike when it was originally proposed.
The money raised by the check-off will be used to expand slaughter capacity, and will be adminstered by the Manitoba Cattle Enhancement Council.
The levy will be collected at point of sale.
Agriculture Minister Rosann Wowchuk says the council will operate under the mandate it was given in March.
The province will match producer contributions to the investment fund, to be reviewed after two years.
The provincial government has already provided an initial $1 million contribution to the Council, and $10 million in repayable start-up financing.