HF 4621
Introduction - 94th Legislature (2025 - 2026)
Posted on 04/07/2026 04:23 p.m.
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A bill for an act
relating to taxation; individual income; increasing the amount of the Minnesota
child credit; amending Minnesota Statutes 2024, section 290.0661, subdivisions
3, 7.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2024, section 290.0661, subdivision 3, is amended to read:
Subd. 3.
Credit amount.
The credit under this section equals deleted text begin $1,750deleted text end new text begin $2,000new text end per
qualifying child.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective for taxable years after December 31,
2025.
new text end
Sec. 2.
Minnesota Statutes 2024, section 290.0661, subdivision 7, is amended to read:
Subd. 7.
Inflation adjustment.
(a) For taxable years beginning after December 31, deleted text begin 2025deleted text end new text begin
2026new text end , the commissioner of revenue must annually adjust for inflation the credit amount in
subdivision 3 as provided in section 270C.22. The adjusted amounts must be rounded to
the nearest $60. The statutory year is taxable year deleted text begin 2025deleted text end new text begin 2026new text end .
(b) For taxable years beginning after December 31, 2023, the commissioner of revenue
must annually adjust for inflation the phaseout thresholds in subdivision 4, as provided in
section 270C.22. The statutory year is taxable year 2023.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective for taxable years after December 31,
2025.
new text end