MN SF1869

Establishes a Greater Minnesota Internship Program administered by the Office of Higher Education to provide academic credit and tax credits for eligible employers hiring interns in areas outside the metropolitan area.

Limits tax credits to 40 percent of intern compensation per qualifying intern, capped at $1,250 per intern, with a maximum of five interns per employer per taxable year and $1,250,000 in total annual credits.

Requires internships to be at least 12 weeks long with a minimum of 16 hours per week at minimum wage, and interns must be juniors, seniors, or have completed half of an associate degree or certification requirements.

Mandates participating institutions and employers submit annual reports on intern hiring, hours, and compensation, with effectiveness reports to the legislature by February 1, 2013 and 2014.

Authorizes an appropriation from the general fund for refunds exceeding tax liability and a one percent administrative fee for the Office of Higher Education and participating institutions, effective for taxable years beginning after December 31, 2011.