1.1 	A bill for an act
1.2 	relating to taxation; individual income; increasing the amount of the Minnesota 
1.3 	child credit;amending Minnesota Statutes 2024, section 290.0661, subdivisions 
1.4 	3, 7.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. Minnesota Statutes 2024, section 290.0661, subdivision 3, is amended to read:
1.7 		Subd. 3.Credit amount. The credit under this section equals $1,750 $2,000 per 
1.8 	qualifying child.

1.9 	EFFECTIVE DATE. This section is effective for taxable years after December 31, 
1.10 	2025.

1.11 	Sec. 2. Minnesota Statutes 2024, section 290.0661, subdivision 7, is amended to read:
1.12 		Subd. 7.Inflation adjustment. (a) For taxable years beginning after December 31, 2025
1.13 	2026, the commissioner of revenue must annually adjust for inflation the credit amount in 
1.14 	subdivision 3 as provided in section 270C.22. The adjusted amounts must be rounded to 
1.15 	the nearest $60. The statutory year is taxable year 2025 2026.
1.16 	(b) For taxable years beginning after December 31, 2023, the commissioner of revenue 
1.17 	must annually adjust for inflation the phaseout thresholds in subdivision 4, as provided in 
1.18 	section 270C.22. The statutory year is taxable year 2023.

1.19 	EFFECTIVE DATE. This section is effective for taxable years after December 31, 
1.20 	2025.