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Bill > HF2274

MN HF2274

MN HF2274
Individual income and corporate franchise taxes, property taxes, local government aids, sales and use taxes, tax increment financing, special local taxes, and other various taxes and tax-related provisions modified; various tax refunds and credits modified; reports required; and money appropriated.

summary

Introduced
03/13/2025
In Committee
03/13/2025
Crossed Over
Passed
Dead

Introduced Session

94th Legislature 2025-2026

Bill Summary

A bill for an act relating to taxation; modifying individual income and corporate franchise taxes, property taxes, local government aids, sales and use taxes, tax increment financing provisions, special local taxes, and other various taxes and tax-related provisions; modifying the political contribution refund; modifying the beginning farmer credit; providing for disclosure of certain corporate franchise tax information; providing for electronic direct free filing for individual income tax returns; providing a subtraction of discharge of coerced debt and excluding that discharged debt from certain definitions of income; modifying the child tax credit; modifying the housing credit; providing nonconformity to certain worker classification rules; modifying and providing for certain property tax exemptions; modifying property classifications; providing an advance homestead credit for seniors; providing an advance credit of homestead credit refunds; providing for land bank organizations; modifying use of certain local government aids; providing for local government aid penalty forgiveness; reducing the credit for research for the provider tax; providing for an amusement device gross receipts tax; repealing the tax on illegal cannabis and controlled substances; providing a sales and use tax exemption for certain construction materials; modifying and providing for certain local tax increment financing authority; clarifying the tax base for local lodging taxes; decreasing certain local special tax rates; modifying use of funds by lawful purpose gambling organizations; providing for land-value taxation districts; providing for certain financial assistance to units of local government; requiring reports; appropriating money; amending Minnesota Statutes 2024, sections 10A.02, subdivision 11b; 10A.322, subdivision 4; 41B.0391, subdivision 4; 272.02, subdivisions 7, 19, by adding subdivisions; 273.13, subdivision 25; 273.1392; 273.1393; 273.38; 273.41; 275.065, subdivision 3; 276.04, subdivision 2; 289A.08, subdivision 1; 290.0132, by adding a subdivision; 290.06, subdivision 23; 290.0661, subdivision 1; 290.0671, subdivision 1a; 290.0683, subdivision 3; 290.92, by adding a subdivision; 290A.03, subdivisions 3, 13, by adding subdivisions; 295.53, subdivision 4a; 297A.61, subdivision 3; 297A.68, subdivisions 3a, 45; 349.12, subdivision 25; 469.1812, by adding a subdivision; 469.1813, subdivisions 1, 6, by adding a subdivision; 469.190, subdivisions 1, 7; 477A.30, subdivisions 4, 7; 609.902, subdivision 4; Laws 1986, chapter 396, section 5, as amended; Laws 1986, chapter 400, section 44, as amended; Laws 2010, chapter 389, article 7, section 22, as amended; Laws 2014, chapter 308, article 6, section 9, as amended; Laws 2017, First Special Session chapter 1, article 6, section 22; proposing coding for new law in Minnesota Statutes, chapters 270B; 273; 289A; 290A; 295; 428A; repealing Minnesota Statutes 2024, sections 13.4967, subdivision 5; 297D.01; 1 297D.02; 297D.03; 297D.04; 297D.05; 297D.06; 297D.07; 297D.08; 297D.085; 297D.09, subdivisions 1, 1a, 2; 297D.10; 297D.11; 297D.12; 297D.13; 477A.30, subdivision 8.

AI Summary

This bill introduces numerous changes to Minnesota's tax code, touching on various aspects of taxation, property taxes, local government aids, and other financial provisions. Here's a comprehensive summary: This bill makes sweeping modifications to Minnesota's tax system, including changes to income taxes, corporate franchise taxes, property taxes, local government aids, and various other tax-related areas. Key provisions include establishing an electronic direct free filing system for individual income tax returns, modifying the political contribution refund process, adjusting the child tax credit, and introducing an advance homestead credit for seniors. The bill reduces the research credit for the provider tax, creates a new amusement device gross receipts tax, and repeals the tax on illegal cannabis and controlled substances. It also provides for new tax increment financing authorities for several cities, including Brooklyn Park, Eden Prairie, and St. Cloud, with special rules for establishing and managing these districts. Additionally, the bill includes several local tax provisions, such as modifications to lodging taxes and special provisions for specific cities like Minneapolis and South St. Paul. The legislation also introduces a new concept of land-value taxation districts, allowing cities to establish districts with unique tax allocation methods. Various appropriations are included for specific purposes, such as grants to local governments and organizations, and financial assistance for emerald ash borer tree removal in Minneapolis.

Committee Categories

Budget and Finance

Sponsors (1)

Last Action

Hearing (10:15:00 3/18/2025 ) (on 03/18/2025)

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