MN SF2427

Updates Minnesota's Internal Revenue Code reference date from April 14, 2011 to February 14, 2012 across multiple tax statutes to incorporate federal tax law changes.

Adds provisions allowing exclusion of airline carrier bankruptcy payment rollovers to traditional IRAs from net income, effective at the same time as federal law.

Permits individuals who excluded airline payment amounts from net income in prior years to file amended returns and claim refunds by April 15, 2013.

Applies updated IRC reference date to individual income tax provisions (section 290.01), earned income credit provisions (section 290A.03), and estate tax provisions (section 291.005).

All changes are effective the day following final enactment.