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SF2679 (Legislative Session 94 (2025-2026))

Private sector equipment training opportunity program establishment and appropriation

Related bill: HF2129

AI Generated Summary

Purpose of the Bill

The bill aims to establish a program that connects students with specific training needs to private businesses that have the necessary equipment. This is intended to bridge the gap between educational institutions and the current demands of the professional world, particularly in fields with high employment needs.

Main Provisions

  • Program Establishment: A private sector equipment training opportunity program will be created to facilitate practical training for students.
  • Involvement of Educational Institutions: The program will work with public high schools, technical colleges, community colleges, state universities, and the University of Minnesota to identify courses that need specific training equipment.
  • Business Participation: Private businesses with relevant equipment will be encouraged to participate in providing training opportunities for students.

Significant Changes and Financial Incentives

  • Tax Credit for Businesses: Private businesses that provide equipment for training will receive a tax credit equivalent to the market rental cost of the equipment. If this credit exceeds their tax liability, the excess amount will be refunded.
  • Annual Reporting: The commissioner is required to submit an annual report detailing the program's progress, participation levels, and any recommendations for improvements. The first report is due by December 31, 2027.

Relevant Terms

private sector equipment training, workforce development, tax credit, training opportunity program, educational institutions, employment needs, tax refund

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 16, 2025SenateFloorActionIntroduction and first reading
March 16, 2025SenateFloorActionReferred toJobs and Economic Development

Citations

 
[
  {
    "analysis": {
      "added": [
        "Defines 'area of employment need career course' under section 175.45 subdivision 1."
      ],
      "removed": [
        ""
      ],
      "summary": "The bill references this statute to define 'area of employment need career course'.",
      "modified": [
        ""
      ]
    },
    "citation": "175.45",
    "subdivision": "subdivision 1"
  },
  {
    "analysis": {
      "added": [
        "References additional qualification criteria for career courses from section 116L.99 subdivision 1 paragraph d."
      ],
      "removed": [
        ""
      ],
      "summary": "This section is used to further define 'area of employment need career course'.",
      "modified": [
        ""
      ]
    },
    "citation": "116L.99",
    "subdivision": "subdivision 1 paragraph d"
  },
  {
    "analysis": {
      "added": [
        "Incorporates tax credit allocation method for nonresidents or part-year residents as per section 290.06 subdivision 2c paragraph e."
      ],
      "removed": [
        ""
      ],
      "summary": "Used for calculating allocation of tax credits for nonresidents or part-year residents.",
      "modified": [
        ""
      ]
    },
    "citation": "290.06",
    "subdivision": "subdivision 2c paragraph e"
  }
]

Sponsors