MN SF3473

Establishes a refundable educator expense credit under Minnesota Statutes chapter 290 for eligible educators, including prekindergarten teachers.

Eligible educators include individuals covered under Internal Revenue Code section 62(d), plus prekindergarten teachers working with children ages 3 and over at schools, Head Start programs, or licensed child care centers.

Credit equals the taxpayer's eligible education expenses (deductible under IRC section 62(a)(2)(D) without the $250 limitation), capped at $300 per taxpayer or $600 for married couples filing jointly if both are eligible educators.

If the credit exceeds tax liability, the commissioner must refund the excess amount to the individual, with appropriated funds from the general fund covering refunds.

Effective for taxable years beginning after December 31, 2023.