The bill amends Minnesota Statutes 2024, section 116L.05, subdivision 5, to include county labor force participation rates as an economic indicator that the board must examine when utilizing workforce development funds. This addition aims to enhance the board's understanding of the labor market and inform their decisions regarding the allocation of funds for workforce development initiatives.

In addition to the new insertion, the bill outlines several conditions that must be met before the board can use workforce development funds, including the examination of various economic indicators, accounting for previous allocations, estimating future funding needs, ensuring unspent funds are available for dislocated workers, and reporting findings to relevant legislative committees and public entities. The overall goal of the bill is to improve the effectiveness of workforce development efforts in Minnesota by incorporating more comprehensive economic data into the decision-making process.

Statutes affected:
Introduction: 116L.05