HF 2821

as introduced - 91st Legislature (2019 - 2020) Posted on 04/08/2019 05:58pm

A bill for an act
relating to economic development; authorizing disclosure of taxpayer return
information for a Federal Reserve Bank study.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin FEDERAL RESERVE BANK OF MINNEAPOLIS; MINIMUM WAGE
ORDINANCE STUDY.
new text end

new text begin (a) The commissioner of revenue may disclose taxpayer return information to the Federal
Reserve Bank of Minneapolis to be used only for the purpose of the Federal Reserve Bank
of Minneapolis conducting and publishing economic research studies regarding the impact
of implementation of minimum wage ordinances adopted by Minneapolis, Saint Paul, and
other Minnesota cities that adopt similar ordinances.
new text end

new text begin (b) For any disclosure under paragraph (a), the commissioner may enter into an
information sharing agreement with the Federal Reserve Bank of Minneapolis defining the
scope of and appropriate use of the information and providing that any study published by
the Federal Reserve Bank of Minneapolis based upon a disclosure under Minnesota Statutes,
chapter 270B, or the Minnesota Government Data Practices Act, Minnesota Statutes, chapter
13, must not include:
new text end

new text begin (1) the identity of a taxpayer; or
new text end

new text begin (2) information derived from a taxpayer's return where the identity of a taxpayer could
reasonably be associated with any of the information derived from the taxpayer's return.
new text end

new text begin (c) The scope of the return information must be limited to return information with respect
to returns filed under chapter 290.
new text end

new text begin (d) The Federal Reserve Bank of Minneapolis, receiving Department of Revenue
information under this section, must establish procedures for safeguarding the information.
new text end

new text begin (e) Following the final publication of any research studies, the Federal Reserve Bank of
Minneapolis shall destroy all information provided by the commissioner of revenue and
shall provide the commissioner of revenue with a certificate of destruction.
new text end

new text begin (f) The authority under this section expires December 31, 2033.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end