MN HF4621

Reduces the percentage of rent that renters must pay out-of-pocket before receiving a state property tax refund across all income brackets.

Increases the maximum state refund amounts for renters, with increases ranging from $250 to $520 depending on income level.

Raises the income threshold at which renters become ineligible for the credit from $61,320 to $68,440.

Effective for refunds based on rent paid in 2022 and following years.

Requires annual inflation adjustments to income thresholds and maximum refund amounts, with 2022 as the statutory year for renter credit calculations.