HF 3316

as introduced - 93rd Legislature (2023 - 2024) Posted on 05/13/2023 09:28am

A bill for an act
relating to taxation; individual income; establishing a two-year income tax holiday
for certain police officers.

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

Section 1. new text begin INCOME TAX HOLIDAY; POLICE OFFICERS.
new text end

new text begin (a) Notwithstanding any law to the contrary, for taxable years beginning after December
31, 2022, and before January 1, 2025, an individual who is an eligible police officer may
elect to receive an exemption from the individual income tax under Minnesota Statutes,
chapter 290.
new text end

new text begin (b) An eligible police officer who is eligible for a refundable credit in excess of the
individual's liability for tax may still file and claim a return for a taxable year covered by
this section.
new text end

new text begin (c) For the purposes of this section, "eligible police officer" means an individual who:
new text end

new text begin (1) worked at least 1,000 hours in Minnesota during the taxable year as a peace officer,
as defined in Minnesota Statutes, section 626.84, subdivision 1, paragraph (c); and
new text end

new text begin (2) had adjusted gross income during the taxable year that did not exceed $75,000, or
$150,000 for a married taxpayer filing a joint return.
new text end

new text begin (d) The definitions in Minnesota Statutes, section 290.01, apply for this section.
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, 2022, and before January 1, 2025.
new text end