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MN HF2367
MN HF2367Individual income tax provisions modified, and public pension benefit subtraction established.
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; establishing a public pension benefit subtraction; amending Minnesota Statutes 2022, sections 290.0132, by adding a subdivision; 290.091, subdivision 2.
AI Summary
This bill establishes a public pension benefit subtraction for Minnesota individual income tax. It allows taxpayers to subtract a portion of their public pension income from their state taxable income, subject to certain income limits and phaseout rules. The bill also updates the definition of "alternative minimum taxable income" in the state's alternative minimum tax calculation to include the new public pension income subtraction. The provisions of this bill are effective for tax years beginning after December 31, 2022.
Committee Categories
Budget and Finance
Sponsors (18)
Dave Pinto (D)*,
Robert Bierman (D),
Greg Davids (R),
Cedrick Frazier (D),
Luke Frederick (D),
Mike Freiberg (D),
Frank Hornstein (D),
John Huot (D),
Sydney Jordan (D),
Ginny Klevorn (D),
Leon Lillie (D),
Dave Lislegard (D),
Danny Nadeau (R),
Mike Nelson (D),
Jerry Newton (D),
Liz Reyer (D),
Zack Stephenson (D),
Dan Wolgamott (D),
Last Action
Author added Davids (on 03/08/2023)
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=HF2367&ssn=0&y=2023 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=HF2367&version=0&session=ls93&session_year=2023&session_number=0&format=pdf |
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