SF 115 Senate Long Description
Relating to taxationARTICLE 1 - INCOME TAXES Reducing individual income tax rates and adjusting the brackets, requiring certain inflation adjustments; reducing the alternative minimum tax rate and increasing the exemption amount ARTICLE 2 - PROPERTY TAX REFORMReducing the property tax classification rates for certain residential and agricultural homestead, commercial industrial, residential nonhomestead, seasonal residential recreational and personal property and increasing the education homestead credit; appropriating money to the commissioner of children, families and learning to fund a reduction in the statewide general education property tax levy; repealing the transition class rate for low income housing and the education homestead credit percentage reduction requirement ARTICLE 3 - HEALTH CARE TAXESEliminating the insurance gross premium tax on health maintenance organizations (HMO), community integrated service networks (CISN) and nonprofit health service plan corporations; phasing out the health care provider tax and the MinnesotaCare gross earnings tax on hospitals and health care providers; repealing the health care access fund, requiring transfer of funds by the commissioner of finance to the general fund and specifying certain term substitution instructions to the revisor of statutes (ra)