MN HF4227

Increases the renter's credit income eligibility cap from $61,320 to $67,790 for household income thresholds across all income brackets.

Raises maximum state refunds from $3,060 to $3,060 for lower and middle income brackets, and increases refunds from $2,480 to $2,480 and from $1,900 to $1,500 to $1,000 to $500 for higher income brackets.

Adjusts percentage of income thresholds and co-pay percentages paid by claimants for rent constituting property taxes across all household income levels.

Establishes 2022 as the statutory year for inflation adjustments under the renter's credit subdivision, effective for refunds based on rent paid in 2022 and following years.

Amends Minnesota Statutes 2020, section 290A.04, subdivisions 2a and 4, relating to property tax refunds and inflation adjustments.