MN HF2

Updates Minnesota's Internal Revenue Code reference date from December 31, 2014 to December 16, 2016 across multiple tax statutes to conform state law to federal tax changes.

Modifies Section 179 expensing provisions in corporate and individual income tax law by changing "allowed by" to "allowed under the dollar limits of" to align with federal depreciation rules.

Allows individuals to file amended tax returns by September 1, 2017 for IRA rollovers of airline payment amounts and by September 1, 2017 for civil damages from wrongful incarceration, both authorized under federal law.

Permits veterans to file amended returns by December 15, 2018 for certain severance payments for combat-related injuries on which federal taxes were withheld.

Prohibits the commissioner of revenue from assessing additional tax or reducing refunds for tax years 2015-2016 when taxpayers calculated taxes using the December 31, 2014 Internal Revenue Code version instead of the updated version.