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HF 2276

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
Rtf

Bill Text Versions

Engrossments
Introduction Posted on 04/04/2005

Current Version - as introduced

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A bill for an act
 relating to taxation; providing employers a refund for
providing transit passes to employees; appropriating
money; amending Minnesota Statutes 2004, section
290.06, subdivision 28.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2004, section 290.06,
subdivision 28, is amended to read:


Subd. 28.

deleted text begin credit deleted text end new text begin refunds new text end for transit passes.

deleted text begin A taxpayer
deleted text end new text begin (a) An employer new text end may deleted text begin take a credit against the tax due under this
chapter deleted text end new text begin claim a refund new text end equal to 30 percent of the expense
incurred by the deleted text begin taxpayer deleted text end new text begin employer new text end to provide transit passes, for
use in Minnesota, to employees of the deleted text begin taxpayer deleted text end new text begin employernew text end .

new text begin (b) new text end As used in this subdivision, new text begin the following terms have
the meanings given:
new text end

new text begin (1) "employer" means an individual or entity subject to tax
under this chapter or an entity that is exempt from taxation
under section 290.05, but excluding entities enumerated in
section 290.05, subdivision 1, paragraph (b); and
new text end

new text begin (2) new text end "transit pass" has the meaning given in section
132(f)(5)(A) of the Internal Revenue Code.

new text begin (c) new text end If the deleted text begin taxpayer deleted text end new text begin employer new text end purchases the transit passes
from the transit system operator, and resells them to the
employees, the deleted text begin credit deleted text end new text begin refund new text end is based on the amount of the
difference between the price paid for the passes by the employer
and the amount charged to employees.

new text begin (d) The commissioner shall prescribe the forms for and the
manner in which the refund may be claimed. The commissioner
must provide for paying refunds at least quarterly. The
commissioner may set a minimum amount of qualifying expenses
that must be incurred before a refund may be claimed.
new text end

new text begin (e) An amount sufficient to pay the refunds required by
this subdivision is appropriated from the general fund to the
commissioner.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for transit
passes purchased after December 31, 2005.
 new text end