MN HF3979

Creates an excess premium credit for eligible taxpayers with modified adjusted gross income above MinnesotaCare program limits who cannot claim federal premium tax credits due to income exceeding 400 percent of federal poverty line or declining employer-sponsored coverage with excessive premiums.

Allows 100 percent credit for silver plan excess premiums and 75 percent credit for gold plan excess premiums, calculated as amounts paid above 120 percent of the statewide average premium for the selected metal level.

Sets maximum credit at $10,000, reduced by 10 percent of federal adjusted gross income above $150,000 for married joint filers and 20 percent above $75,000 for other filers, with credit floor of zero.

Allocates credit for part-year residents and nonresidents based on the percentage calculated under Minnesota tax residency provisions.

Effective for taxable years beginning after December 31, 2019.