HF 2546

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to taxation; income; providing a credit for 
  1.3             certain volunteer services; proposing coding for new 
  1.4             law in Minnesota Statutes, chapter 290.  
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [290.0675] [CREDIT FOR VOLUNTEER SERVICES.] 
  1.7      Subdivision 1.  [CREDIT ALLOWED.] An individual taxpayer is 
  1.8   allowed a credit against the income tax imposed by this chapter 
  1.9   for volunteer services performed by the taxpayer or the 
  1.10  taxpayer's spouse for a qualified charitable organization.  
  1.11     Subd. 2.  [DEFINITIONS.] For purposes of this section: 
  1.12     (a) "qualified charitable organization" means an 
  1.13  organization described in section 170(c)(1) or (2) of the 
  1.14  Internal Revenue Code that is (1) an educational institution or 
  1.15  an entity organized and operated exclusively for educational 
  1.16  purposes; or (2) an entity that limits membership to or is 
  1.17  organized and operated exclusively to provide services to 
  1.18  persons aged 65 or older.  
  1.19     (b) "Volunteer services" means uncompensated, unreimbursed 
  1.20  personal services.  It does not apply to any expenses or to time 
  1.21  spent for personal transportation, travel, meals, or lodging.  
  1.22     Subd. 3.  [COMPUTATION OF CREDIT.] The credit is equal to 
  1.23  ten percent of an amount computed by multiplying the sum of the 
  1.24  hours of volunteer services performed by the taxpayer and the 
  1.25  taxpayer's spouse that exceeds 25 by the minimum wage payable to 
  2.1   an employee by a large employer under section 177.24, 
  2.2   subdivision 1, paragraph (b), provided that the maximum number 
  2.3   of hours of volunteer services for which the credit is allowed 
  2.4   is 100.  
  2.5      Subd. 4.  [NONREFUNDABLE; APPORTIONMENT.] The credit 
  2.6   allowed under this section may not exceed the liability for tax 
  2.7   under this chapter for the taxable year reduced by the sum of 
  2.8   the nonrefundable credits allowed under this chapter.  For a 
  2.9   nonresident or part-year resident, the credit must be 
  2.10  apportioned by the percentage calculated under section 290.06, 
  2.11  subdivision 2c, paragraph (e).  
  2.12     Sec. 2.  [EFFECTIVE DATE.] 
  2.13     Section 1 is effective for taxable years beginning after 
  2.14  December 31, 1995.