Bill > SF854

This bill establishes an income tax subtraction for health insurance premiums in Minnesota. The bill amends the state's tax code to allow taxpayers to subtract the amount they paid during the taxable year for health insurance, as defined in the Internal Revenue Code, from their taxable income. The subtraction does not include any amount used to compute the state's credit for health insurance premiums. The bill is effective for taxable years beginning after December 31, 2022.