Bill
Bill > HF604
MN HF604
MN HF604Individual income tax provisions modified, and unlimited Social Security subtraction allowed.
summary
Introduced
01/19/2023
01/19/2023
In Committee
01/19/2023
01/19/2023
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 from individual income taxes in Minnesota. It removes the previous limitations and phaseouts on the Social Security subtraction, allowing all Social Security benefits received by a taxpayer to be subtracted from their taxable income. The changes made by this bill are effective for tax years beginning after December 31, 2022.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Introduction and first reading, referred to Taxes (on 01/19/2023)
Taxonomy
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Social Welfare
- ‐ Retirement Issues
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF0604&ssn=0&y=2023 | 01/19/2023 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=HF604&version=0&session=ls93&session_year=2023&session_number=0&format=pdf | 01/19/2023 |
Loading...