summary
Introduced
01/31/2022
01/31/2022
In Committee
01/31/2022
01/31/2022
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 amends the Minnesota Statutes to allow an unlimited Social Security subtraction for individual income taxes. Previously, the subtraction was subject to certain limits and thresholds based on the taxpayer's filing status and provisional income. The bill removes these limits and allows the full amount of Social Security benefits received to be subtracted from the taxpayer's taxable income. This change is effective for taxable years beginning after December 31, 2021.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Author added Westrom (on 02/28/2022)
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=Senate&f=SF2592&ssn=0&y=2021 | 01/29/2022 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=SF2592&version=0&session=ls92&session_year=2022&session_number=0&format=pdf | 01/29/2022 |
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