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 improve decision-making 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 these funds, including an examination of relevant economic indicators, accounting for previous allocations, estimating future funding needs, and ensuring there are unspent funds available after addressing the needs of dislocated workers. The board is also required to report its findings to relevant legislative committees and public stakeholders.

Statutes affected:
Introduction: 116L.05