MN HF3817

Amends Minnesota Statutes section 290.01, subdivision 31, to conform state tax law with federal bonus depreciation rules under section 70301 of Public Law 119-21

Allows full expensing (100% bonus depreciation) for certain business property, enabling businesses to immediately deduct the full cost of qualifying property purchases

Updates Minnesota's definition of "Internal Revenue Code" to include the federal full expensing provision while maintaining the existing reference date of May 1, 2023

Effective the day following final enactment, with federal conformity changes applied retroactively to match federal effective dates