summary
Introduced
01/09/2023
01/09/2023
In Committee
01/09/2023
01/09/2023
Crossed Over
Passed
Dead
05/20/2024
05/20/2024
Introduced Session
93rd Legislature 2023-2024
Bill Summary
A bill for an act relating to taxation; individual income; allowing an unlimited Social Security subtraction; amending Minnesota Statutes 2022, section 290.0132, subdivision 26.
AI Summary
This bill allows for an unlimited Social Security subtraction on individual income taxes in Minnesota. The current law has limits and phase-outs for the Social Security subtraction, but this bill removes those restrictions, allowing taxpayers to fully subtract their Social Security benefits from their taxable income. The effective date of this change is for tax years beginning after December 31, 2022.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Author added Kreun (on 01/23/2023)
Bill Topics
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Social Welfare
- ‐ Retirement Issues
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=SF0095&ssn=0&y=2023 | 01/06/2023 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=SF95&version=0&session=ls93&session_year=2023&session_number=0&format=pdf | 01/06/2023 |
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