MN HF2956

Prohibits the legislature from enacting new tax credits or expanding existing tax credits unless an existing tax credit is simultaneously repealed or modified to result in no net change to state tax revenues

Defines a tax credit broadly to include any provision deducted from tax liability, whether limited to the liability amount or refundable

Exempts modifications to existing tax credits made solely to conform to changes in corresponding federal tax credits

Voids any tax credit enacted or expanded in violation of this moratorium

Takes effect the day following final enactment and applies to all tax credits enacted after that date; includes an expiration date to be determined