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MN HF4578
Bill
Status
3/24/2022
Primary Sponsor
Sydney Jordan
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AI Summary
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Creates an income tax subtraction for the portion of grants issued under Minnesota Statutes section 136A.1274 that is not used for qualified tuition and related expenses, effective for taxable years beginning after December 31, 2021.
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Increases total appropriation for higher education from $271,702,000 to $275,002,000, adding $3,300,000.
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Increases funding for grants to underrepresented student teachers from $1,000,000 to $1,733,000 in the current appropriation period.
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Establishes the base appropriation for grants to underrepresented student teachers at $1,733,000 for fiscal year 2024 and later years.
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Allows the commissioner to use no more than 3 percent of the grants to underrepresented student teachers appropriation for program administration.
Legislative Description
Higher education grant income tax subtraction provided, underrepresented student teacher program grant funding increased, and money appropriated.
Last Action
Introduction and first reading, referred to Higher Education Finance and Policy
3/24/2022