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Bill > HF1401


MN HF1401

MN HF1401
Dependent care credit amount increased.


summary

Introduced
02/22/2021
In Committee
02/22/2021
Crossed Over
Passed
Dead
05/23/2022

Introduced Session

92nd Legislature 2021-2022

Bill Summary

A bill for an act relating to taxation; individual income; increasing the amount of the dependent care credit; amending Minnesota Statutes 2020, section 290.067, subdivision 1.

AI Summary

This bill increases the amount of the dependent care credit for Minnesota taxpayers. Specifically, it amends the existing law to provide a credit equal to 2.5 times the amount of the federal dependent care credit, rather than the previous credit amount. The bill also includes an effective date provision, stating that the changes will apply to taxable years beginning after December 31, 2020.

Committee Categories

Budget and Finance

Sponsors (2)

Last Action

Author added Koznick (on 03/08/2021)

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