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MN HF1316
Bill
Status
Introduced
2/18/2021
Primary Sponsor
Heather Keeler
Click for details
AI Summary
- Establishes a state income tax credit for eligible educators equal to 25 percent of eligible education expenses, with the federal $250 limit removed.
- Credit phases out at 3 percent per dollar of adjusted gross income over $40,000 ($80,000 for married filing jointly), with a minimum credit of $0.
- Maximum credit is capped at $250 per taxpayer ($500 for married couples filing jointly if both are eligible educators).
- Credits exceeding tax liability are refundable, with refunds paid from the general fund.
- Effective for taxable years beginning after December 31, 2020.
Legislative Description
Educator expense credit established.
Last Action
Introduction and first reading, referred to Education Policy
2/18/2021
Committee Referrals
Education Policy2/18/2021
Full Bill Text
No bill text available