MN SF4415

Allows a subtraction from Minnesota income tax for gains from the disposition of section 1250 property (depreciable realty) when a manufactured home park classified as 4c(5)(ii) or 4c(5)(iii) is sold to a manufactured home park cooperative.

Expands the subtraction for corporate filers to include sales to either a manufactured home park cooperative or a nonprofit corporation, as defined under Minnesota law.

Modifies the alternative minimum taxable income definition to include the new section 1250 property gain subtraction (subdivision 31) in the list of deductible amounts.

Applies retroactively to dispositions made in taxable years beginning after December 31, 2021.

Amends Minnesota Statutes sections 290.0132, 290.0134, and 290.091 to implement the tax subtraction and update related definitions.