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HF2129 (Legislative Session 94 (2025-2026))

Private sector equipment training opportunity program established, and money appropriated.

Related bill: SF2679

AI Generated Summary

Purpose of the Bill

This bill aims to establish a program that connects students with specific equipment training needs to private sector businesses that have the necessary equipment. The goal is to enhance workforce development by providing students with hands-on experience using the equipment currently utilized in professional settings.

Main Provisions

  • Program Creation: The bill creates the Private Sector Equipment Training Opportunity Program to facilitate partnerships between educational institutions and private businesses.
  • Role of the Commissioner: The Commissioner of Employment and Economic Development is tasked with identifying courses that lack necessary training equipment and encouraging businesses to participate by offering access to their equipment.
  • Tax Incentives: Private businesses participating in the program are offered a tax credit. This credit is equivalent to the cost of renting the training equipment on the private market.
  • Tax Credit Details: If the tax credit exceeds a business's tax liability, the excess will be refunded. The bill outlines specific provisions for nonresident or part-year resident businesses regarding eligibility for the tax credit.

Significant Changes to Existing Law

  • Educational Institutions: The initiative includes public high schools, technical colleges, community colleges, state universities, and the University of Minnesota, thereby formalizing their role in addressing employment needs by collaborating with the private sector.
  • Tax Code Adjustments: Introduces a new tax credit incentive for businesses, which affects the existing taxation framework under Minnesota Statutes Chapter 290.

Reporting Requirements

  • An annual report is mandated, starting by December 31, 2027, detailing the number of student participants, courses offered, participating businesses, tax credits issued, and suggestions for program improvements to be submitted to legislative committees overseeing employment and economic development policy.

Relevant Terms

private sector, equipment training, workforce development, tax credit, educational institutions, hands-on experience, commissioner, rental cost, business participation, annual report.

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 09, 2025HouseFloorActionIntroduction and first reading, referred toWorkforce, Labor, and Economic Development Finance and Policy

Citations

 
[
  {
    "analysis": {
      "added": [
        "Ensures inclusion of specific career courses that potentially lead to identified occupations."
      ],
      "removed": [],
      "summary": "This section references defining terms related to employment need in Minnesota workforce development.",
      "modified": []
    },
    "citation": "175.45"
  },
  {
    "analysis": {
      "added": [
        "The bill ties specific career courses to statutory definitions."
      ],
      "removed": [],
      "summary": "Clarifies the definition related to career courses in workforce development programs.",
      "modified": []
    },
    "citation": "116L.99"
  },
  {
    "analysis": {
      "added": [
        "Introduces new credit schemes for businesses aiding in education via equipment provision."
      ],
      "removed": [],
      "summary": "Grants a tax credit against taxes due under chapter 290 for private sector businesses.",
      "modified": [
        "Adjusts credit calculations for nonresidents or part-year residents."
      ]
    },
    "citation": "290"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Refers to allocation of tax credits for nonresidents or part-year residents.",
      "modified": [
        "Details the calculation method for tax credit allocations based on residency."
      ]
    },
    "citation": "290.06"
  }
]

Sponsors