SF 4622
Introduction - 94th Legislature (2025 - 2026)
Posted on 03/24/2026 10:11 a.m.
1.6 1.7 1.8 1.9 1.10 1.11 1.12
1.13 1.14 1.15
A bill for an act
relating to taxation; individual income; conforming to the federal exclusion from
gross income for employer contributions to Trump accounts; amending Minnesota
Statutes 2024, section 290.01, subdivision 31.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2024, section 290.01, subdivision 31, is amended to read:
Subd. 31.
Internal Revenue Code.
Unless specifically defined otherwise, "Internal
Revenue Code" means the Internal Revenue Code of 1986, as amended through May 1,
2023new text begin , except it also includes section 70204 of Public Law 119-21, the exclusion from gross
income for employer contributions to Trump accountsnew text end . Internal Revenue Code also includes
any uncodified provision in federal law that relates to provisions of the Internal Revenue
Code that are incorporated into Minnesota law.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective the day following final enactment, except
the changes incorporated by federal changes are effective retroactively at the same time the
changes were effective for federal purposes.
new text end