MN HF3386

Creates a Minnesota income and corporate franchise tax credit equal to 85% of the value of food donations made by farmers to food shelves

Credit is capped at 50% of the real property taxes paid by the farmer during the taxable year

Donations must be food produced by the farmer and qualify as charitable contributions under IRS Section 170; the same donation cannot be used for any other state tax deduction or credit

Credit is nonrefundable but unused amounts can be carried forward for up to five succeeding taxable years

Effective for taxable years beginning after December 31, 2025