MN SF2536

Increases the maximum expense limit for personal computers, educational software, and Internet service provider charges from $200 to $300 per family under the Minnesota education credit.

Raises the income threshold for claiming the education credit from $33,500 to $45,000 for determining maximum credit amounts and phase-out calculations.

Maintains the credit calculation at 75 percent of qualified education-related expenses for children in kindergarten through grade 12, with maximum credit of $1,000 per qualifying child for eligible households.

Requires the state commissioner to annually adjust the household income limitation starting in 2023 using the provisions in section 270C.22.

Applies retroactively to taxable years beginning after December 31, 2022.