MN SF4100

Modifies Minnesota Statutes section 290.05, subdivision 3, regarding unrelated business income tax for tax-exempt organizations.

Excludes all revenues from lawful gambling authorized under chapter 349 from unrelated business taxable income, provided the revenues are expended for charitable contribution purposes under federal tax code section 170.

Adds a new requirement that lawful gambling revenues subtracted from taxable income must be expended for purposes qualifying as charitable contributions under section 170 of the Internal Revenue Code, disregarding the limitation under section 170(b)(2).

Applies retroactively to taxable years beginning after December 31, 2018.