MN SF4048

Requires the commissioner of revenue to certify to the commissioner of management and budget any tax revenue Minnesota receives from the treatment of deferred foreign income under Public Law 115-97 (the federal Tax Cuts and Jobs Act).

Mandates the commissioner of management and budget transfer the certified amount to the state budget reserve account each fiscal year.

Applies to revenue received in taxable years beginning after December 31, 2017.

Amends Minnesota Statutes 2016, section 16A.152, by adding subdivision 2a.