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MN HF3814

Bill

Official Source

Status

Introduced

3/2/2026

Primary Sponsor

Patti Anderson

Click for details

Origin

House of Representatives

94th Legislature 2025-2026

AI Summary

  • Amends Minnesota Statutes section 290.01, subdivision 31, to incorporate federal Section 179 expensing changes from section 70306 of Public Law 119-21 into Minnesota's tax code
  • Section 179 expensing allows businesses to deduct the full purchase price of qualifying equipment and software in the year of purchase rather than depreciating over time
  • Affects both individual income taxes and corporate franchise taxes
  • Effective the day following final enactment, with federal conformity provisions applied retroactively to match federal effective dates

Legislative Description

Individual income and corporate franchise taxes; federal changes to section 179 expensing conformed.

Last Action

Author added Allen

3/5/2026

Committee Referrals

Taxes3/2/2026

Full Bill Text

No bill text available