Minnesota 2025-2026 Regular Session

Minnesota Senate Bill SF2679 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	1.1 A bill for an act
2	2	1.2 relating to workforce development; establishing a private sector equipment training
3	3	1.3 opportunity program; requiring a report; appropriating money.
4	4	1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
5	5	1.5 Section 1. PRIVATE SECTOR EQUIPMENT TRAINING OPPORTUNITY
6	6	1.6PROGRAM.
7	7	1.7 Subdivision 1.Program established.The private sector equipment training opportunity
8	8	1.8program is created to act as a catalyst to bring students with specific equipment training
9	9	1.9needs together with private sector businesses that possess the necessary equipment to fulfill
10	10	1.10those equipment training needs.
11	11	1.11 Subd. 2.Definitions.(a) For the purposes of this section, the following terms have the
12	12	1.12meanings given.
13	13	1.13 (b) "Area of employment need career course" means a course that will potentially lead
14	14	1.14to a career in an occupation identified in Minnesota Statutes, section 175.45, subdivision
15	15	1.151, or meet the definition in Minnesota Statutes, section 116L.99, subdivision 1, paragraph
16	16	1.16(d).
17	17	1.17 (c) "Commissioner" means the commissioner of employment and economic development.
18	18	1.18 (d) "Educational institution" includes:
19	19	1.19 (1) public high schools;
20	20	1.20 (2) public technical colleges;
21	21	1.21 (3) state community colleges;
22	22	1Section 1.
23	23	25-03096 as introduced02/17/25 REVISOR SS/LJ
24	24	SENATE
25	25	STATE OF MINNESOTA
26	26	S.F. No. 2679NINETY-FOURTH SESSION
27	27	(SENATE AUTHORS: DRAHEIM, Jasinski and Howe)
28	28	OFFICIAL STATUSD-PGDATE
29	29	Introduction and first reading03/17/2025
30	30	Referred to Jobs and Economic Development 2.1 (4) state universities; and
31	31	2.2 (5) the University of Minnesota.
32	32	2.3 (e) "Student" means a student currently enrolled in an educational institution.
33	33	2.4 Subd. 3.Duties.In facilitating the program, the commissioner shall:
34	34	2.5 (1) work with educational institutions to identify those area of employment need career
35	35	2.6courses that lack the training equipment necessary to educate students with equipment
36	36	2.7currently used in the profession; and
37	37	2.8 (2) identify and encourage private businesses that possess the equipment to participate
38	38	2.9in the equipment training opportunity program.
39	39	2.10 Subd. 4.Private sector equipment training tax credit.(a) A private sector business
40	40	2.11is allowed a credit against the tax due under Minnesota Statutes, chapter 290, equal to the
41	41	2.12amount it would cost to rent the equipment used to train students on the private market.
42	42	2.13 (b) The credit allowed to a private sector business under this subdivision for a taxable
43	43	2.14year is limited to the lesser of the following amounts:
44	44	2.15 (1) $.......; or
45	45	2.16 (2) the total amount of the cost of the equipment on the private market less depreciation.
46	46	2.17 (c) If the amount of credit which a claimant is eligible to receive under this subdivision
47	47	2.18exceeds the claimant's tax liability under Minnesota Statutes, chapter 290, the commissioner
48	48	2.19of revenue shall refund the excess to the claimant.
49	49	2.20 (d) For a nonresident or a part-year resident, the credit under this subdivision must be
50	50	2.21allocated based on the percentage calculated under Minnesota Statutes, section 290.06,
51	51	2.22subdivision 2c, paragraph (e).
52	52	2.23 (e) Credits granted to a partnership, a limited liability company taxed as a partnership,
53	53	2.24an S corporation, or multiple owners of property are passed through to the partners, members,
54	54	2.25shareholders, or owners, respectively, pro rata to each partner, member, shareholder, or
55	55	2.26owner based on their share of the entity's assets or as specially allocated in their
56	56	2.27organizational documents or any other executed agreement, as of the last day of the taxable
57	57	2.28year.
58	58	2.29 (f) An amount sufficient to pay the refunds required by this section is appropriated to
59	59	2.30the commissioner of revenue from the general fund.
60	60	2Section 1.
61	61	25-03096 as introduced02/17/25 REVISOR SS/LJ 3.1 Subd. 5.Reporting.The commissioner must submit an annual report by December 31
62	62	3.2of each year regarding the equipment training opportunity program to the chairs and ranking
63	63	3.3minority members of the legislative committees with jurisdiction over employment and
64	64	3.4economic development policy and taxes. The first report is due no later than December 31,
65	65	3.52027. The annual report must describe the following:
66	66	3.6 (1) the number of students that participated in a private sector equipment training
67	67	3.7opportunity the previous calendar year;
68	68	3.8 (2) a list of courses and applicable occupations for which equipment training opportunities
69	69	3.9were provided;
70	70	3.10 (3) a list of businesses participating in the equipment training opportunity program;
71	71	3.11 (4) the amount of tax credits allowed to participating businesses; and
72	72	3.12 (5) a list of recommendations to the legislature regarding potential program improvements.
73	73	3.13 EFFECTIVE DATE.This section is effective the day following final enactment, except
74	74	3.14that subdivision 4 is effective for taxable years beginning after December 31, 2025, and
75	75	3.15before January 1, 2029.
76	76	3Section 1.
77	77	25-03096 as introduced02/17/25 REVISOR SS/LJ