MN HF1722

Creates a tax credit for qualified employers against Minnesota income and corporate franchise taxes for amounts paid directly for paid family leave benefits or paid to insurance companies for paid family leave insurance.

Limits the credit to the lesser of $3,000 per qualified employee per taxable year or the total amount actually paid for such benefits, excluding amounts deducted on federal taxes.

Restricts eligibility to employers with 50 or fewer employees in Minnesota who pay family leave benefits to employees employed for at least one year.

Defines "family leave" to include caring for family members with serious health conditions, bonding with newborns or newly adopted/fostered children within 12 months, and addressing qualifying military-related exigencies under federal law.

Allows unused credits to carry forward for up to five succeeding taxable years and applies to taxable years beginning after December 31, 2023, and before January 1, 2027.