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MN SF2101

Bill

Official Source

Status

Introduced

3/3/2025

Primary Sponsor

Steve Drazkowski

Click for details

Origin

Senate

94th Legislature 2025-2026

AI Summary

  • Repeals the annual inflation adjustment for the Minnesota Child Tax Credit, which currently requires the credit amount and phaseout thresholds to be adjusted annually based on inflation
  • Repeals the annual inflation adjustment for the Minnesota Working Family Credit, which currently adjusts earned income amounts and qualifying older child amounts for inflation
  • Effective for taxable years beginning after December 31, 2024
  • Results in both tax credits remaining fixed at their statutory amounts rather than increasing with inflation over time

Legislative Description

Inflation adjustment repeal for the child tax credit and working family credit

Last Action

Referred to Taxes

3/3/2025

Committee Referrals

Taxes3/3/2025

Full Bill Text

No bill text available