summary
Introduced
03/04/2021
03/04/2021
In Committee
03/04/2021
03/04/2021
Crossed Over
Passed
Dead
05/23/2022
05/23/2022
Introduced Session
92nd Legislature 2021-2022
Bill Summary
A bill for an act relating to taxation; individual income; allowing an unlimited Social Security subtraction; amending Minnesota Statutes 2020, section 290.0132, subdivision 26.
AI Summary
This bill allows for an unlimited Social Security subtraction on individual income taxes in Minnesota. The previous law had a maximum subtraction amount that was reduced based on the taxpayer's provisional income, but this bill removes those limitations, allowing taxpayers to subtract the full amount of their Social Security benefits received during the taxable year. The change is effective for taxable years beginning after December 31, 2020.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Introduction and first reading, referred to Taxes (on 03/04/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF1834&ssn=0&y=2021 | 03/05/2021 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=HF1834&version=0&session=ls92&session_year=2021&session_number=0&format=pdf | 03/05/2021 |
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