MN HF3075

Allows individual Minnesota taxpayers to subtract contributions to 529 college savings plans from state taxable income, up to $4,000 for married joint filers and $2,000 for all other filers annually.

Adds clause (19) to Minnesota Statutes section 290.01, subdivision 19b, which lists authorized subtractions from federal taxable income for individuals, estates, and trusts.

Applies to taxable contributions made in tax years beginning after December 31, 2013.