HF 1922
Introduction - 92nd Legislature (2021 - 2022)
Posted on 03/04/2021 02:46 p.m.
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A bill for an act
relating to taxation; individual income; requiring the commissioner of revenue to
distribute income tax refunds; appropriating money.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1. new text begin THE GIVE IT BACK ACT.
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new text begin Subdivision 1. new text end
new text begin Short title. new text end
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This section may be cited as the "Give It Back Act."
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new text begin Subd. 2. new text end
new text begin Individual income tax refund required. new text end
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By October 15, 2021, the
commissioner of revenue must pay each individual income taxpayer a refund, in accordance
with this section.
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new text begin Subd. 3. new text end
new text begin Refund amount. new text end
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(a) For married taxpayers filing a joint return, the refund
equals the lesser of:
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(1) the sum of the taxpayer's tax year 2019 and tax year 2020 individual income tax
liability; or
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(2) $2,000.
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(b) For all other taxpayers, the refund equals the lesser of:
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(1) the sum of the taxpayer's tax year 2019 and tax year 2020 individual income tax
liability; or
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(2) $1,000.
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(c) For a taxpayer whose total liability in tax years 2019 and 2020 was negative, the
refund amount equals $0.
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new text begin Subd. 4. new text end
new text begin Definitions. new text end
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For the purposes of this section:
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(1) "tax year 2019" means taxable years beginning after December 31, 2018, and before
January 1, 2020; and
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(2) "tax year 2020" means taxable years beginning after December 31, 2019, and before
January 1, 2021.
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new text begin Subd. 5. new text end
new text begin Appropriation. new text end
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An amount sufficient to pay the refunds required under this
section is appropriated from the general fund to the commissioner of revenue in fiscal year
2022 for refunds under this section.
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