Bill > HF2129

This bill establishes a Private Sector Equipment Training Opportunity Program designed to connect students from educational institutions (including high schools, technical colleges, state universities, and the University of Minnesota) with private businesses that have specialized equipment needed for career-specific training. The program aims to address equipment training gaps in courses related to employment needs by having the commissioner of employment and economic development identify courses lacking necessary training equipment and encourage businesses to participate. As an incentive, the bill creates a tax credit for private sector businesses equal to the cost of renting equipment used to train students, with certain limitations. The tax credit can be refunded if it exceeds a business's tax liability and can be passed through to partners, members, shareholders, or owners. Businesses participating in the program will be tracked, and the commissioner must submit an annual report by December 31st detailing program participation, courses, businesses involved, tax credits issued, and recommendations for improvement. The tax credit provisions will be effective for taxable years between 2026 and 2028, with the overall program beginning immediately after the bill's enactment.

Labor and Employment

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2129&ssn=0&y=2025