MN HF1303

Establishes an income tax credit for eligible landlords equal to 65 percent of total unpaid rent during the peacetime emergency declared in Executive Order 20-01 and related orders.

Defines eligible landlords as those with tenants who failed to pay agreed-upon rent or vacated property without paying past-due rent during the peacetime emergency and eviction moratorium.

Allows landlords to apply to the commissioner of revenue to claim the credit against taxes owed under Minnesota Statutes chapter 290, with excess credits refunded to the landlord.

Credits for partnerships, limited liability companies, S corporations, and multiple property owners pass through to partners, members, shareholders, or owners pro rata based on their asset share or organizational allocation agreements.

Effective retroactively for taxable years beginning after December 31, 2019 and before January 1, 2022, covering unpaid rent months during the 2020 and 2021 eviction moratorium.