Minnesota HF 3318: Teachers; two-year income tax holiday established for eligible teachers.

Bill Text

1.1 A bill for an act​
1.2 relating to taxation; individual income; establishing a two-year income tax holiday​
1.3 for certain teachers.​
1.4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:​
1.5 Section 1. INCOME TAX HOLIDAY; TEACHERS.​
1.6 (a) Notwithstanding any law to the contrary, for taxable years beginning after December​
1.7 31, 2022, and before January 1, 2025, an individual who is an eligible teacher may elect to​
1.8 receive an exemption from the individual income tax under Minnesota Statutes, chapter​
1.9 290.​
1.10 (b) An eligible teacher who is eligible for a refundable credit in excess of the individual's​
1.11 liability for tax may still file and claim a return for a taxable year covered by this section.​
1.12 (c) For the purposes of this section, "eligible teacher" means an individual who:​
1.13 (1) worked at least 1,000 hours in Minnesota as a teacher, as defined in Minnesota​
1.14 Statutes, section 122A.06, subdivision 2, during the taxable year; and​
1.15 (2) had adjusted gross income during the taxable year that did not exceed $95,000, or​
1.16 $190,000 for a married taxpayer filing a joint return.​
1.17 (d) The definitions in Minnesota Statutes, section 290.01, apply for this section.​
1.18 EFFECTIVE DATE.This section is effective for taxable years beginning after December​
1.19 31, 2022, and before January 1, 2025.​
1​Section 1.​
REVISOR EAP/CA 23-05039​05/03/23 ​
State of Minnesota​
This Document can be made available​
in alternative formats upon request​
HOUSE OF REPRESENTATIVES​
H. F. No. 3318​
NINETY-THIRD SESSION​
Authored by Murphy, Bakeberg, Zeleznikar, Knudsen, Bennett and others​05/13/2023​
The bill was read for the first time and referred to the Committee on Taxes​