Bill > HF444

This bill creates a new tax credit program to support graduates of aerospace and aviation-related educational programs and their employers in Minnesota. The bill defines key terms such as "aerospace" (relating to vehicles or objects for flight or space travel) and "aviation" (relating to controlled flight through the air), and establishes a comprehensive tax credit system with multiple components. Qualified employees who graduate from accredited aerospace or aviation programs and are newly employed in the sector can receive a $5,000 annual tax credit for the first five consecutive years of employment. Qualified employers can also receive tax credits: 50% of tuition reimbursed to employees (up to a certain limit), and 10% of compensation paid to qualified employees (not to exceed $15,000 annually per employee). The credits are designed to encourage workforce development in the aerospace and aviation industries by providing financial incentives for both employees and employers. The bill requires the state commissioner to submit annual reports on the program's cost and effectiveness, and the credits will be available for taxable years between 2026 and 2034. The goal appears to be attracting and retaining talent in Minnesota's aerospace and aviation sectors by offsetting educational and employment costs.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF0444&ssn=0&y=2025