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Bill > HF2425
MN HF2425
MN HF2425Individual income tax provisions modified, and all income tax rates reduced by 3.25 percentage points.
summary
Introduced
03/02/2023
03/02/2023
In Committee
03/02/2023
03/02/2023
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; reducing all income tax rates by 3.25 percentage points; amending Minnesota Statutes 2022, section 290.06, subdivisions 2c, as amended, 2d.
AI Summary
This bill reduces all individual income tax rates in Minnesota by 3.25 percentage points. Specifically, it amends the income tax rate schedules for married individuals filing joint returns, unmarried individuals, and unmarried individuals filing as head of household. The bill also adjusts the income thresholds for each tax bracket to account for inflation. These changes are effective for taxable years beginning after December 31, 2022.
Committee Categories
Budget and Finance
Sponsors (27)
Isaac Schultz (R)*,
Pam Altendorf (R),
Patti Anderson (R),
Jeff Backer (R),
John Burkel (R),
Brian Daniels (R),
Kurt Daudt (R),
Lisa Demuth (R),
Jeff Dotseth (R),
Elliott Engen (R),
Marj Fogelman (R),
Dawn Gillman (R),
Bobbie Harder (R),
Walter Hudson (R),
Jim Joy (R),
Krista Knudsen (R),
Jon Koznick (R),
Ron Kresha (R),
Tom Murphy (R),
Anne Neu Brindley (R),
Harry Niska (R),
Paul Novotny (R),
Bernie Perryman (R),
Peggy Scott (R),
Mike Wiener (R),
Jeff Witte (R),
Natalie Zeleznikar (R),
Last Action
Author added Perryman (on 03/13/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2425&ssn=0&y=2023 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=HF2425&version=0&session=ls93&session_year=2023&session_number=0&format=pdf |
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