Income tax credit proposed for graduates of aerospace and aviation-related educational programs and employers of program graduates, and reports required.

This bill proposes a $5,000 annual income tax credit for Minnesota graduates of accredited aerospace or aviation educational programs during their first five years of full-time employment with qualifying employers. It also provides a tax credit for employers who reimburse tuition for these graduates during the same five-year period. The credit applies only to graduates with degrees, certificates, or FAA-recognized certifications from approved programs at eligible institutions. Both credits are limited to the taxpayer's annual income tax liability and expire after five years.