HF 1333

as introduced - 88th Legislature (2013 - 2014) Posted on 03/07/2013 01:28pm

A bill for an act
relating to economic development; providing grants for science and
technology-focused workforce expansion; appropriating money.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin SCIENCE AND TECHNOLOGY-FOCUSED WORKFORCE
EXPANSION GRANTS; APPROPRIATION.
new text end

new text begin $20,000,000 in fiscal year 2014 and $20,000,000 in fiscal year 2015 are appropriated
from the general fund to the commissioner of employment and economic development for
the Minnesota investment fund under Minnesota Statutes, section 116J.8731, for grants to
Minnesota science and technology businesses to expand their workforces in Minnesota.
The commissioner shall develop criteria for the awarding of grants under this section.
Funds may be used to pay 100 percent of wage and salary costs of employees hired by
a business during the first year of participation, 75 percent of wage and salary costs of
employees hired by a business during the second year of participation, 50 percent of wage
and salary costs of employees hired by a business during the third year of participation,
and 25 percent of wage and salary costs of employees hired by a business during the fourth
year of participation. This is a onetime appropriation and is available until expended.
new text end