Bill > SF1194

This bill establishes a new tax credit for Minnesota residents with children receiving instruction outside of public schools. Specifically, the bill allows a tax credit calculated by multiplying the state's formula allowance (a standard funding amount used in education financing) by the number of "qualifying children" in the household. A qualifying child is defined as a kindergarten through 12th-grade student who meets certain Internal Revenue Code dependent requirements and receives instruction consistent with Minnesota's homeschooling and alternative education statutes. The credit can be applied against the taxpayer's state income tax, and it will become effective for taxable years beginning after December 31, 2024. This appears to provide financial support for families choosing educational options outside traditional public school settings, such as homeschooling or attending private schools, by offering a tax benefit that scales with the number of school-age children in the household.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF1194&ssn=0&y=2025