SF 2152

as introduced - 91st Legislature (2019 - 2020) Posted on 03/11/2019 04:10pm

A bill for an act
relating to taxation; individual income; providing a toddler tax credit; proposing
coding for new law in Minnesota Statutes, chapter 290.

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

Section 1.

new text begin [290.0683] TODDLER TAX CREDIT.
new text end

new text begin Subdivision 1. new text end

new text begin Credit allowed; limitations. new text end

new text begin (a) A taxpayer who is the parent or guardian
of a qualifying child may take a credit of $1,000 per qualifying child against the tax imposed
under this chapter. A taxpayer qualifies for the credit authorized under this section if the
taxpayer is the parent or guardian of at least one qualifying child.
new text end

new text begin (b) For purposes of this section, a "qualifying child" means, with respect to any taxpayer
for any taxable year, an individual who:
new text end

new text begin (1) has not attained the age of five by the end of the calendar year in which the taxable
year of the taxpayer begins;
new text end

new text begin (2) is either:
new text end

new text begin (i) a child of the taxpayer or a descendant of the child; or
new text end

new text begin (ii) a brother, sister, stepbrother or stepsister of the taxpayer or a descendant of the
relative; and
new text end

new text begin (3) has the same principal place of abode as the taxpayer for more than one-half of the
taxable year.
new text end

new text begin (c) The credit under this section may not exceed the taxpayer's liability for tax under
this chapter.
new text end

new text begin (d) In the case of a married claimant, a credit is not allowed unless a joint income tax
return is filed.
new text end

new text begin (e) For a nonresident or part-year resident, the credit determined under this section must
be allocated based on the percentage calculated under section 290.06, subdivision 2c,
paragraph (e).
new text end

new text begin Subd. 2. new text end

new text begin Right to file claim. new text end

new text begin The right to file a claim under this section is personal to
the claimant and does not survive death, but the right may be exercised on behalf of a
claimant by the claimant's legal guardian or attorney-in-fact. When a claimant dies after
having filed a timely claim, the credit amount shall be disbursed to another member of the
claimant's household as determined by the commissioner. If the claimant was the only
member of a household, the claim may be paid to the claimant's personal representative,
but if none is appointed and qualified within two years of the filing of the claim, the amount
of the claim shall escheat to the state.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxable years beginning after December
31, 2018.
new text end