MN SF2274

Establishes a new jobs training program administered by the Department of Employment and Economic Development to provide workforce education and training for jobs in new or expanding primary sector businesses located outside the metropolitan area.

Creates a "new jobs credit from withholding" mechanism where income tax withholding on wages paid to new employees is credited toward repaying grants made for training program costs, with credits limited to $10,000,000 per year.

Appropriates $10,000,000 annually from the general fund beginning after June 30, 2012, for program grants, with funding reduced by amounts allocated to community-funded projects.

Requires employers to enter agreements with the commissioner that include provisions for minimum wage standards ($10 per hour plus benefits by end of first year), on-the-job training cost limits (50 percent of annual gross wages), and maximum 10-year deferral of training cost payments.

Establishes program expiration date of June 30, 2017, for new training agreements and requires a progress report to the governor and legislature by February 1, 2015.