E Relating to economic development ARTICLE 1 TAX INCENTIVESProviding an income tax subtraction for a certain percentage of long term capital gains from investments in qualified high technology businesses, defining qualified high technology business, qualified research and computer software for subtraction eligibility purposes; making the corporate franchise tax credit a refundable credit and appropriating money to the commissioner of revenue for credit refund purposes; repealing the research credit limit and carryover provision ARTICLE 2 ECONOMIC DEVELOPMENT Requiring the state board of investment to identify and invest in Minnesota based start-up businesses meeting board investment guidelines; creating the high technology venture capital account in the special revenue fund for investment by the commissioner of trade and economic development in private venture capital funds providing seed capital for early stage development of Minnesota based high technology companies expected to experience high growth, specifying certain investment limits, authorizing commissioner grants to communities to stimulate local investments in rural Minnesota industrial business clusters; appropriating money to DTED for transfer to the account and for the rural industry clusters, to the investment board for payment of staff costs relating to focusing investment efforts in Minnesota based start-up businesses and to Minnesota Technology, Inc. for a grant to Minnesota investment network corporation for seed capital funds ARTICLE 3 HIGHER EDUCATIONExpanding state appropriations for public post-secondary education institutions instructional services to estimated expenditures for tuition waivers for high achieving nonresidents not attending a state institution under a tuition reciprocity agreement; establishing a lifetime learning grant program under the supervision of the higher education services office for grants to state residents acquiring or improving job skills at eligible educational institutions, specifying applicant, course and institution eligibility requirements and certain grant limits and certain responsibilities of participating institutions and the HESO; requesting the board of regents of the university of Minnesota to establish a partnership with private industry to leverage research capabilities into economic development results through creation of a nonprofit tax exempt corporation to be known as the north star research coalition to be governed by a board of directors; specifying certain duties of the coalition, requiring funding of certain research projects; creating the north star research coalition endowment fund, requiring investment of the fund by the state board of investment and audits by the legislative auditor; appropriating money to the endowment fund, to the board of regents for the university contribution to the coalition, for stabilization of funding for the medical school, for recruitment and retention of faculty, for programs in the biological and medical sciences and for replacement of revenue lost due to tuition waivers or for establishment of a merit based scholarship program, to the board of trustees of the Minnesota state colleges and universities (MnSCU) for replacement of revenue lost due to tuition waivers or for establishment of a merit based scholarship program and to HESO for the lifetime learning grant program(ra, ja)