Minnesota Legislature
HF 1669
as introduced - 94th Legislature (2025 - 2026) Posted on 02/27/2025 03:16pm
Bill Text Versions
| Engrossments | ||
|---|---|---|
| Introduction | Posted on 02/27/2025 |
Current Version - as introduced
1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15
1.16
A bill for an act
relating to taxation; income and corporate franchise; increasing the allocation for
the credit for sustainable aviation fuel; amending Minnesota Statutes 2024, section
41A.30, subdivision 5.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2024, section 41A.30, subdivision 5, is amended to read:
Subd. 5.
Allocation limits.
(a) For tax credits allowed under subdivision 2, the
commissioner must not issue credit certificates for more than:
(1) $7,400,000 for fiscal year 2025; and
(2) deleted text begin $2,100,000deleted text end new text begin $10,000,000new text end for deleted text begin each ofdeleted text end fiscal years 2026 deleted text begin and 2027deleted text end new text begin to 2029new text end .
(b) If the entire amount authorized under paragraph (a) is not allocated in fiscal deleted text begin yeardeleted text end new text begin
yearsnew text end 2025 deleted text begin or 2026deleted text end new text begin to 2029new text end , any remaining amount is available for allocation through fiscal
year 2030 until the entire allocation has been made. The commissioner must not issue any
credit certificates for fiscal years beginning after June 30, 2030, and any unallocated amounts
cancel on that date.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective the day following final enactment.
new text end