MN HF3816

Amends Minnesota Statutes 2024, section 290.01, subdivision 31, to update the state's definition of "Internal Revenue Code" for tax conformity purposes

Incorporates section 70302 of Public Law 119-21, allowing full expensing of domestic research and experimental expenditures for Minnesota individual income and corporate franchise taxes

Maintains Minnesota's existing conformity to the Internal Revenue Code of 1986 as amended through May 1, 2023, while adding this specific federal provision

Effective the day following final enactment, with federal changes applied retroactively to match when they became effective for federal tax purposes