HF1219 Summary

• Income and Withholding Tax Changes: Allows commissioner to abate additional tax charges under certain conditions; modifies estimated tax payment requirements for S corporations, partnerships, and trusts; adds reporting requirements for third-party sick pay benefit payers.

• Estate Tax Modifications: Extends filing deadlines for certain decedent estates dying between December 31, 2009 and December 17, 2010; allows qualified terminable interest property elections for estates that made federal elections under the Tax Relief Act of 2010.

• Property Tax Adjustments: Clarifies homestead property classifications, agricultural homestead definitions, and permits corrected certifications for railroad and utility property assessments; provides property tax exemption for St. Louis County fairgrounds.

• Sales and Use Tax Technical Changes: Establishes transitional rate change rules for services; clarifies direct mail sourcing rules and exemption certificate requirements; modifies accelerated payment penalties.

• Special Purpose Provisions: Authorizes Anoka County debt issuance for public safety improvements; extends tax increment financing district authorities in Ramsey, Cohasset, and Lino Lakes; permits inclusion of certain parcels in Sauk Rapids district; prohibits percentage-based compensation contracts for tax activities.