MN HF2969

Establishes a $2,000 refundable tax credit for parents of stillborn children in Minnesota for the taxable year in which the stillbirth occurred.

Credit is available only if the child would have qualified as a dependent under section 152 of the Internal Revenue Code.

For part-year residents, the credit is allocated based on the percentage calculated under Minnesota's part-year resident tax provisions.

Credit is refundable, meaning if the $2,000 credit exceeds the individual's tax liability, the commissioner must refund the excess amount to the taxpayer.

An appropriation from the general fund is established to cover refunds required under this section, effective for taxable years beginning after December 31, 2015.