"House File One sends a strong signal that growing better-paying jobs is one of the top priorities of the New House Republican Majority," Kresha said. "Our economy is signaling strength; now is the time to give certainty to job creators and entrepreneurs, and give them the tools to invest with confidence in Minnesota communities and help bring better-paying jobs to all parts of the state."
House File One contains a number of provisions aimed at creating better-paying jobs, particularly in Greater Minnesota where companies have a more difficult time finding skilled workers. Some of the provisions include:
A state New Market Tax Credit for companies who make qualified venture investments in businesses in specifically determined parts of the state where jobs are needed in industries such as manufacturing, high tech, timber, mining.
A refundable income tax credit for people who receive a degree in science, technology, engineering, math or long-term care field in parts of the state with high workforce vacancy rates. The credit amounts to up to 50% of MnSCU tuition for the year in which the employee graduated, up to $2,500 for two-year program graduates and $5,000 for four-year program graduates.
Makes permanent a statewide pilot grant program that helps cities construct workforce rental housing to help attract qualified workers in areas that lack sufficient or affordable rental options. Thief River Falls has been a commonly cited example where the rental housing market has hindered job growth.
Expediting the DNR and MPCA permitting process goal from 90 days to 45 days for Tier 1 environmental permits.
House File One was officially introduced during Thursday's legislative session. Kresha noted that the current version of the bill was a starting point, and that he would seek additional changes or input through the committee and legislative process.
"This bill is a starting point. I plan to seek input from my colleagues on both sides the aisle, other state officials, and members of the public on ways to improve upon this bill and make it even better. Growing jobs is a bipartisan goal, and I look forward to finding ways to do just that."