ST. PAUL, MN—First-term Rep. Roz Peterson, R-Lakeville introduced the first bills of her legislative career during Tuesday's legislative session. The first bill,
HF258, would expand a research tax credit rate for small businesses and companies who invest here in research efforts in Minnesota. The second,
HF263, makes permanent a program that was set to expire later this year that provides financial assistance for extracurricular activities for low-income students using a portion of sales tax proceeds from high school athletic events.
"As a former school board member, I know how valuable this program has been for schools, and for the students who are able to participate as a result of this program," Peterson said. HF263 was referred to the Education Innovation Policy Committee, where Peterson hopes it will receive its first hearing in the coming weeks. The bill has bipartisan support, co-authored by DFL Rep. Yvonne Selcer from Eden Prairie.
HF258 is co-authored by Tax Committee Chairman Rep. Greg Davids, R-Preston. The bill was given its first hearing during Thursday's Tax Committee meeting, and was laid over for possible inclusion in a future Tax Omnibus bill.
"Expanding a research tax credit rate will encourage companies to invest in additional research and help create jobs and further innovation right here in Minnesota. Minnesota can be at the forefront of technology and innovation if we give businesses incentives and tools to conduct their research work here with the help of talented Minnesota workers."
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