HF 3460

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/12/2024 12:00pm

A bill for an act
relating to taxation; property tax refunds; requiring a study on property tax refund
reforms.

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

Section 1. new text begin STUDY OF PROPERTY TAX REFUND REFORMS.
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new text begin (a) No later than January 15, 2025, the commissioner of revenue must submit to the
legislative committees with jurisdiction over taxes and property taxes a report with
recommendations to:
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new text begin (1) simplify the process for claiming the property tax refunds under Minnesota Statutes,
section 290A.04, subdivisions 2 and 2h; and
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new text begin (2) improve participation in those refund programs.
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new text begin (b) Among other possible policy changes identified by the commissioner, the report
must evaluate the following changes to the programs:
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new text begin (1) converting the programs to a refundable income tax credit;
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new text begin (2) automatically applying the refunds to a taxpayer's property tax liability; and
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new text begin (3) modifying the measure of income used to calculate refunds.
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new text begin (c) The report must comply with Minnesota Statutes, sections 3.195 and 3.197.
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new text begin EFFECTIVE DATE. new text end

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