MN SF282

Allows qualified employers a tax credit equal to 25 percent of wages paid to qualifying employees during parental leave, limited to $3,000 or 25 percent of the employee's normal hourly wages for up to six weeks per taxable year.

Provides eligible employees a tax credit equal to 25 percent of forgone wages for unpaid parental leave of up to six weeks, with the credit amount based on prior year wages or a county-based child care cost index.

Requires qualified employers to provide at least two weeks of annual paid parental leave to full-time employees and prorated amounts to part-time employees at 100 percent wage replacement.

Establishes that eligible employees must be employed by non-qualifying employers, take at least one week of unpaid leave during the taxable year, and have been full-time employees for at least nine of the preceding twelve months.

Credits for employers may be carried over to the next five taxable years if they exceed current year tax liability, while employee credits exceeding tax liability are refundable with appropriation from the general fund.