Purpose of the Bill

The purpose of this bill is to provide financial support to the Minnesota Technology Association to enhance internship opportunities in the fields of science, technology, engineering, and math (STEM) for college and graduate students. The goal is to facilitate students' transition into STEM careers and increase participation from women and other underserved populations.

Main Provisions

• Funding Allocation: The bill allocates $1,000,000 from the general fund for both fiscal year 2026 and 2027 to support the SciTech internship program.
• Internship Program: The program will offer paid internships to two-year and four-year college students, as well as graduate students, focusing on STEM disciplines.
• Company Eligibility: Internships will be offered at small for-profit companies in Minnesota with fewer than 250 employees worldwide.
• Financial Support for Hiring Companies: The program will cover 50% of the wages paid to interns by participating companies, with a cap of $3,000 per intern.
• Focus on Diversity: A key objective of the program is to increase internship participation among women and other underserved groups.

Significant Changes to Existing Law

• This bill introduces a new one-time appropriation specifically for the SciTech internship program, aimed at supporting STEM internships and promoting diversity within the STEM fields.

Relevant Terms

economic development, Minnesota Technology Association, SciTech internship program, STEM, science, technology, engineering, mathematics, college students, graduate students, internship opportunities, small businesses, financial support, diversity, underserved populations, workforce development.