Bill > HF1183

This bill amends Minnesota's tax statutes to modify the definition of "Internal Revenue Code" by specifically excluding section 530 of Public Law 95-600, as amended, from the state's tax code. The bill updates the state's tax laws to ensure that a particular uncodified federal provision related to the Internal Revenue Code will not apply to Minnesota's tax calculations. Specifically, the amendment adds a new subsection (b) to the existing statute, which explicitly states that section 530 of Public Law 95-600 is not considered part of the Internal Revenue Code for Minnesota tax purposes. This change will take effect for taxable years beginning after December 31, 2025, giving taxpayers and tax authorities advance notice of the modification. The bill appears to be a technical adjustment to align state tax law with specific federal tax provisions, potentially addressing a particular issue or interpretation of tax classification or reporting requirements.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF1183&ssn=0&y=2025