MN SF59

Allows a subtraction from Minnesota individual income tax for amounts paid during the taxable year for medical care and health insurance.

Excludes from the subtraction any amounts that are compensated by insurance, paid by an employer, or reimbursed through health care reimbursement accounts, accident and health plans, cafeteria plans, flexible spending accounts, or health savings accounts under Internal Revenue Code sections 104, 105, 125, and 223.

Excludes from the subtraction any amounts used to compute the credit under Minnesota Statutes section 290.0672.

Defines "medical care" as amounts paid for services and goods for which a federal Medicaid match would be available under chapter 256B, and amounts paid for health insurance as defined in Internal Revenue Code section 213(d)(1)(D).

Effective for taxable years beginning after December 31, 2022.