HF 2748

1st Engrossment - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to children; establishing the Minnesota 
  1.3             family assets for independence initiative; 
  1.4             appropriating money for the department of children, 
  1.5             families, and learning; amending Minnesota Statutes 
  1.6             1996, section 290.06, by adding a subdivision; 
  1.7             Minnesota Statutes 1997 Supplement, section 290.01, 
  1.8             subdivisions 19a and 19b; proposing coding for new law 
  1.9             as Minnesota Statutes, chapter 119C. 
  1.10  BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.11     Section 1.  [119C.01] [ESTABLISHMENT.] 
  1.12     The Minnesota family assets for independence initiative is 
  1.13  established to provide incentives for low-income families to 
  1.14  accrue assets for education, housing, and economic development 
  1.15  purposes. 
  1.16     Sec. 2.  [119C.02] [DEFINITIONS.] 
  1.17     Subdivision 1.  [FAMILY ASSET ACCOUNT.] "Family asset 
  1.18  account" means a savings account opened by a household 
  1.19  participating in the Minnesota family assets for independence 
  1.20  initiative. 
  1.21     Subd. 2.  [COMMISSIONER.] "Commissioner" means the 
  1.22  commissioner of children, families, and learning. 
  1.23     Subd. 3.  [FIDUCIARY ORGANIZATION.] "Fiduciary organization"
  1.24  means: 
  1.25     (1) a community action agency that has obtained recognition 
  1.26  under section 268.53; 
  1.27     (2) a community development credit union that: 
  2.1      (i) has a dual mission of promoting community development 
  2.2   and providing high quality services to predominantly low-income 
  2.3   people; 
  2.4      (ii) serves an investment area or targeted population; 
  2.5      (iii) provides development services in conjunction with 
  2.6   equity investments or loans, directly or through a subsidiary or 
  2.7   affiliate; 
  2.8      (iv) maintains, through representation on its governing 
  2.9   board or otherwise, accountability to residents of its 
  2.10  investment area or targeted population; and 
  2.11     (v) is not an agency or instrumentality of the United 
  2.12  States, or of the state or a political subdivision of the state; 
  2.13  or 
  2.14     (3) WomenVenture. 
  2.15     Subd. 4.  [ELIGIBLE EDUCATIONAL INSTITUTION.] "Eligible 
  2.16  educational institution" means: 
  2.17     (1) an institution described in United States Code, title 
  2.18  20, section 1088(a)(1) or 1141(a); and 
  2.19     (2) an area vocational education school as defined in 
  2.20  United States Code, title 20, section 2471(4)(C) or (D). 
  2.21     Subd. 5.  [FINANCIAL INSTITUTION.] "Financial institution" 
  2.22  means a bank, bank and trust, savings bank, savings association, 
  2.23  or credit union, the deposits of which are insured by the 
  2.24  Federal Deposit Insurance Corporation or the National Credit 
  2.25  Union Administration. 
  2.26     Subd. 6.  [POST-SECONDARY EDUCATIONAL EXPENSES.] 
  2.27  "Post-secondary educational expenses" means: 
  2.28     (1) tuition and fees required for the enrollment or 
  2.29  attendance of a student at an eligible educational institution; 
  2.30  and 
  2.31     (2) fees, books, supplies, and equipment required for 
  2.32  courses of instruction at an eligible educational institution. 
  2.33     Subd. 7.  [QUALIFIED ACQUISITION COSTS.] "Qualified 
  2.34  acquisition costs" means the costs of acquiring, constructing, 
  2.35  or reconstructing a residence, including any usual or reasonable 
  2.36  settlement, financing, or other closing costs. 
  3.1      Subd. 8.  [QUALIFIED BUSINESS.] "Qualified business" means 
  3.2   any business that does not contravene any law or public policy. 
  3.3      Subd. 9.  [QUALIFIED BUSINESS CAPITALIZATION 
  3.4   EXPENSES.] "Qualified business capitalization expenses" means 
  3.5   qualified expenditures for the capitalization of a business 
  3.6   pursuant to a qualified plan. 
  3.7      Subd. 10.  [QUALIFIED EXPENDITURES.] "Qualified 
  3.8   expenditures" means expenditures included in a qualified plan, 
  3.9   including capital, plant, equipment, working capital, and 
  3.10  inventory expenses. 
  3.11     Subd. 11.  [QUALIFIED PLAN.] "Qualified plan" means a 
  3.12  business plan that: 
  3.13     (1) is approved by a financial institution, or by a 
  3.14  nonprofit loan fund or microenterprise program that has 
  3.15  demonstrated fiduciary integrity; 
  3.16     (2) includes a description of services or goods to be sold, 
  3.17  a marketing plan, and projected financial statements; and 
  3.18     (3) may require the participant to obtain the assistance of 
  3.19  an experienced entrepreneurial adviser. 
  3.20     Subd. 12.  [QUALIFIED PRINCIPAL RESIDENCE.] "Qualified 
  3.21  principal residence" means a principal residence within the 
  3.22  meaning of section 1034 of the Internal Revenue Code of 1986, 
  3.23  the qualified acquisition costs of which do not exceed 100 
  3.24  percent of the average area purchase price applicable to the 
  3.25  residence determined according to section 143(e)(2) and (3) of 
  3.26  the Internal Revenue Code of 1986. 
  3.27     Subd. 13.  [FEDERAL POVERTY LEVEL.] "Federal poverty level" 
  3.28  means the poverty income guidelines published in the most recent 
  3.29  calendar year by the United States Department of Health and 
  3.30  Human Services. 
  3.31     Subd. 14.  [HOUSEHOLD.] "Household" means all individuals 
  3.32  who share use of a dwelling unit as primary quarters for living 
  3.33  and eating separate from other individuals. 
  3.34     Sec. 3.  [119C.03] [GRANTS APPLICATION.] 
  3.35     Subdivision 1.  [GRANTS AWARDED.] The commissioner shall 
  3.36  award grants to fiduciary organizations to provide family asset 
  4.1   services under this chapter for up to four years. 
  4.2      The commissioner will apportion available state and federal 
  4.3   grant funds among applicants in proportion to the size of the 
  4.4   poverty level population in the agency's service area compared 
  4.5   to the size of the poverty level population in the state.  For 
  4.6   fiduciary organizations which are not community action agencies 
  4.7   under section 268.53, the commissioner will identify the 
  4.8   organization's service population for purposes of apportioning 
  4.9   grant funds. 
  4.10     Subd. 2.  [APPLICATIONS.] A fiduciary organization may 
  4.11  apply to the commissioner for a grant to provide family asset 
  4.12  services.  The application must be submitted in a form approved 
  4.13  by the commissioner and must include: 
  4.14     (1) a proposal for the provision of family asset services, 
  4.15  including program objectives, number of participating 
  4.16  households, match rate, availability of adequate funding, 
  4.17  appropriateness of the proposed services for the population to 
  4.18  be served, and outreach activities; 
  4.19     (2) a proposed budget; 
  4.20     (3) a plan for collection of required data and the method 
  4.21  to be used for program evaluation; 
  4.22     (4) evidence of the participation in the development of the 
  4.23  application of any agency or governmental body that will provide 
  4.24  services or assistance to the program; and 
  4.25     (5) any other information the commissioner may require. 
  4.26     Subd. 3.  [DUTIES.] A fiduciary organization that receives 
  4.27  a grant under this chapter shall: 
  4.28     (1) establish an account in which all funds provided to the 
  4.29  organization for the purpose of the family assets for 
  4.30  independence initiative are deposited; 
  4.31     (2) determine whether an applicant household is eligible to 
  4.32  participate in the family assets for independence initiative; 
  4.33     (3) select, from eligible households, the households best 
  4.34  suited to participate, with preference given to individuals 
  4.35  residing within neighborhoods or communities that experience low 
  4.36  rates of income or employment; 
  5.1      (4) develop, with the household, a family asset agreement; 
  5.2      (5) provide households with economic literacy education, 
  5.3   including information on budgeting, use of credit, 
  5.4   homeownership, and long-term financial planning; 
  5.5      (6) provide matching deposits for households selected to 
  5.6   participate; 
  5.7      (7) coordinate with homeownership, small business, and 
  5.8   related programs administered by the commissioner of trade and 
  5.9   economic development and the commissioner of the Minnesota 
  5.10  housing finance agency; 
  5.11     (8) establish a grievance committee and a procedure to 
  5.12  hear, review, and decide in writing any grievance made by a 
  5.13  household; and 
  5.14     (9) comply with all requirements of this chapter and of the 
  5.15  commissioner related to administration of the grants. 
  5.16     Sec. 4.  [119C.04] [HOUSEHOLD ELIGIBILITY; PARTICIPATION.] 
  5.17     Subdivision 1.  [INITIAL ELIGIBILITY.] To be eligible for 
  5.18  the family assets for independence initiative, the household's 
  5.19  income must be below 200 percent of the federal poverty level.  
  5.20  An individual who is a dependent of another person for federal 
  5.21  income tax purposes may not be a separate eligible household for 
  5.22  purposes of this chapter, but may be included in the household 
  5.23  of the taxpayer who claims the individual as a dependent if they 
  5.24  meet the definition of household in section 119C.02, subdivision 
  5.25  14.  In verifying income eligibility, the fiduciary organization 
  5.26  shall apply procedures and policies consistent with procedures 
  5.27  and policies used under the low-income home energy assistance 
  5.28  program. 
  5.29     Subd. 2.  [PARTICIPATION.] To participate in the family 
  5.30  assets for independence initiative, a household must: 
  5.31     (1) be selected by a fiduciary organization; 
  5.32     (2) enter into a family asset agreement with a fiduciary 
  5.33  organization; and 
  5.34     (3) open a savings account at a financial institution. 
  5.35     Subd. 3.  [FAMILY ASSET AGREEMENT; CONTENTS.] The fiduciary 
  5.36  organization and the household must develop a family asset 
  6.1   agreement for the household.  The family asset agreement must 
  6.2   include the amount of the household's regularly scheduled 
  6.3   contribution to their savings account, the household's savings 
  6.4   goal, and how the household will use savings and matching funds 
  6.5   for one or more permissible uses.  The household must agree to 
  6.6   complete an economic literacy training program.  A family asset 
  6.7   agreement may be amended upon agreement by the household and the 
  6.8   agency. 
  6.9      Subd. 4.  [INDIVIDUAL CONTRIBUTIONS.] A household may only 
  6.10  deposit money in a family asset account that is derived from 
  6.11  earned income of members of the household and income from state 
  6.12  and federal earned income credits of members of the household.  
  6.13     Sec. 5.  [119C.05] [WITHDRAWAL; MATCHING; PERMISSIBLE 
  6.14  USES.] 
  6.15     Subdivision 1.  [WITHDRAWAL OF FUNDS.] To receive a match 
  6.16  upon withdrawal of funds from a family asset account, a 
  6.17  participant must make a request for withdrawal of funds and 
  6.18  agree to transfer withdrawn funds to the fiduciary organization. 
  6.19  The fiduciary organization must determine whether the request 
  6.20  for withdrawal of funds is for a permissible use consistent with 
  6.21  this section and the household's family asset agreement.  A 
  6.22  "permissible use" means using funds to pay for: 
  6.23     (1) post-secondary educational expenses; 
  6.24     (2) qualified home acquisition costs; 
  6.25     (3) qualified business capitalization expenses; or 
  6.26     (4) amounts paid for repairs to a qualified principal 
  6.27  residence to comply with city housing or health and safety codes 
  6.28  or for other major repairs or improvements to a qualified 
  6.29  principal residence. 
  6.30     Subd. 2.  [MATCHING.] If the request for withdrawal is 
  6.31  approved, a household's account will be matched at the time of 
  6.32  withdrawal based on the balance in the household's account, 
  6.33  including interest, at the time of withdrawal.  Matches must be 
  6.34  provided as follows: 
  6.35     (1) from the funds provided by the commissioner, a matching 
  6.36  contribution of $2 for every $1 of funds withdrawn from the 
  7.1   family asset account; 
  7.2      (2) from funds other than those provided by the 
  7.3   commissioner, a matching contribution of no less than $2 for 
  7.4   every $1 of funds withdrawn from the family asset account. 
  7.5      Subd. 3.  [VENDOR PAYMENT OF WITHDRAWN FUNDS.] Upon receipt 
  7.6   of withdrawn funds, the agency shall make a direct payment to 
  7.7   the vendor of the goods or services being purchased by the 
  7.8   household. 
  7.9      Sec. 6.  [119C.06] [EXCLUSION OF PARTICIPANT INCOME AND 
  7.10  ASSETS.] 
  7.11     The commissioner of human services shall exclude money in a 
  7.12  family asset account when calculating assets and shall exclude 
  7.13  interest income from the account when calculating eligibility 
  7.14  for general assistance, general assistance medical care, and the 
  7.15  statewide Minnesota family investment program.  Up to $25 a 
  7.16  month in earned income deposited in a family asset account shall 
  7.17  be disregarded in calculating initial income eligibility and an 
  7.18  assistance unit's assistance payment under the statewide 
  7.19  Minnesota family investment program. 
  7.20     Sec. 7.  [119C.07] [REPORTING; EVALUATION.] 
  7.21     Subdivision 1.  [PROGRAM REPORTING.] Each fiduciary 
  7.22  organization operating a family assets for independence 
  7.23  initiative shall report annually to the commissioner of 
  7.24  children, families, and learning the number of accounts, the 
  7.25  amount of savings and matches for each account, the uses of the 
  7.26  account, and the number of businesses, homes, and educational 
  7.27  services paid for with money from the account, as well as other 
  7.28  information that may be required for the state to operate the 
  7.29  program effectively. 
  7.30     Subd. 2.  [STATE REPORTING.] The commissioner of children, 
  7.31  families, and learning shall prepare a written report annually 
  7.32  regarding the family assets for independence initiative.  The 
  7.33  report shall be transmitted to the legislature on or before 
  7.34  January 15 of 2000 and each subsequent year. 
  7.35     Subd. 3.  [EVALUATION.] The commissioner shall conduct an 
  7.36  evaluation of the family assets for independence initiative that 
  8.1   analyzes the initiative's impact on savings rates, 
  8.2   homeownership, level of education attained, and self-employment, 
  8.3   and how such impacts vary among different populations and 
  8.4   communities.  The commissioner shall report to the legislature 
  8.5   on the evaluation by January 15, 2003. 
  8.6      Sec. 8.  [119C.08] [ECONOMIC LITERACY CURRICULUM.] 
  8.7      The fiduciary organization shall develop an economic 
  8.8   literacy curriculum for use by agencies participating in the 
  8.9   family assets for independence initiative. 
  8.10     Sec. 9.  Minnesota Statutes 1997 Supplement, section 
  8.11  290.01, subdivision 19a, is amended to read: 
  8.12     Subd. 19a.  [ADDITIONS TO FEDERAL TAXABLE INCOME.] For 
  8.13  individuals, estates, and trusts, there shall be added to 
  8.14  federal taxable income: 
  8.15     (1)(i) interest income on obligations of any state other 
  8.16  than Minnesota or a political or governmental subdivision, 
  8.17  municipality, or governmental agency or instrumentality of any 
  8.18  state other than Minnesota exempt from federal income taxes 
  8.19  under the Internal Revenue Code or any other federal statute, 
  8.20  and 
  8.21     (ii) exempt-interest dividends as defined in section 
  8.22  852(b)(5) of the Internal Revenue Code, except the portion of 
  8.23  the exempt-interest dividends derived from interest income on 
  8.24  obligations of the state of Minnesota or its political or 
  8.25  governmental subdivisions, municipalities, governmental agencies 
  8.26  or instrumentalities, but only if the portion of the 
  8.27  exempt-interest dividends from such Minnesota sources paid to 
  8.28  all shareholders represents 95 percent or more of the 
  8.29  exempt-interest dividends that are paid by the regulated 
  8.30  investment company as defined in section 851(a) of the Internal 
  8.31  Revenue Code, or the fund of the regulated investment company as 
  8.32  defined in section 851(h) of the Internal Revenue Code, making 
  8.33  the payment; and 
  8.34     (iii) for the purposes of items (i) and (ii), interest on 
  8.35  obligations of an Indian tribal government described in section 
  8.36  7871(c) of the Internal Revenue Code shall be treated as 
  9.1   interest income on obligations of the state in which the tribe 
  9.2   is located; 
  9.3      (2) the amount of income taxes paid or accrued within the 
  9.4   taxable year under this chapter and income taxes paid to any 
  9.5   other state or to any province or territory of Canada, to the 
  9.6   extent allowed as a deduction under section 63(d) of the 
  9.7   Internal Revenue Code, but the addition may not be more than the 
  9.8   amount by which the itemized deductions as allowed under section 
  9.9   63(d) of the Internal Revenue Code exceeds the amount of the 
  9.10  standard deduction as defined in section 63(c) of the Internal 
  9.11  Revenue Code.  For the purpose of this paragraph, the 
  9.12  disallowance of itemized deductions under section 68 of the 
  9.13  Internal Revenue Code of 1986, income tax is the last itemized 
  9.14  deduction disallowed; 
  9.15     (3) the capital gain amount of a lump sum distribution to 
  9.16  which the special tax under section 1122(h)(3)(B)(ii) of the Tax 
  9.17  Reform Act of 1986, Public Law Number 99-514, applies; 
  9.18     (4) the amount of income taxes paid or accrued within the 
  9.19  taxable year under this chapter and income taxes paid to any 
  9.20  other state or any province or territory of Canada, to the 
  9.21  extent allowed as a deduction in determining federal adjusted 
  9.22  gross income.  For the purpose of this paragraph, income taxes 
  9.23  do not include the taxes imposed by sections 290.0922, 
  9.24  subdivision 1, paragraph (b), 290.9727, 290.9728, and 290.9729; 
  9.25     (5) the amount of loss or expense included in federal 
  9.26  taxable income under section 1366 of the Internal Revenue Code 
  9.27  flowing from a corporation that has a valid election in effect 
  9.28  for the taxable year under section 1362 of the Internal Revenue 
  9.29  Code, but which is not allowed to be an "S" corporation under 
  9.30  section 290.9725; and 
  9.31     (6) the amount of any distributions in cash or property 
  9.32  made to a shareholder during the taxable year by a corporation 
  9.33  that has a valid election in effect for the taxable year under 
  9.34  section 1362 of the Internal Revenue Code, but which is not 
  9.35  allowed to be an "S" corporation under section 290.9725 to the 
  9.36  extent not already included in federal taxable income under 
 10.1   section 1368 of the Internal Revenue Code; and 
 10.2      (7) the amount withdrawn from a family asset account during 
 10.3   the taxable year that is not used for approved purposes as 
 10.4   provided in sections 2 to 8. 
 10.5      Sec. 10.  Minnesota Statutes 1997 Supplement, section 
 10.6   290.01, subdivision 19b, is amended to read: 
 10.7      Subd. 19b.  [SUBTRACTIONS FROM FEDERAL TAXABLE INCOME.] For 
 10.8   individuals, estates, and trusts, there shall be subtracted from 
 10.9   federal taxable income: 
 10.10     (1) interest income on obligations of any authority, 
 10.11  commission, or instrumentality of the United States to the 
 10.12  extent includable in taxable income for federal income tax 
 10.13  purposes but exempt from state income tax under the laws of the 
 10.14  United States; 
 10.15     (2) if included in federal taxable income, the amount of 
 10.16  any overpayment of income tax to Minnesota or to any other 
 10.17  state, for any previous taxable year, whether the amount is 
 10.18  received as a refund or as a credit to another taxable year's 
 10.19  income tax liability; 
 10.20     (3) the amount paid to others, less the credit allowed 
 10.21  under section 290.0674, not to exceed $1,625 for each dependent 
 10.22  in grades kindergarten to 6 and $2,500 for each dependent in 
 10.23  grades 7 to 12, for tuition, textbooks, and transportation of 
 10.24  each dependent in attending an elementary or secondary school 
 10.25  situated in Minnesota, North Dakota, South Dakota, Iowa, or 
 10.26  Wisconsin, wherein a resident of this state may legally fulfill 
 10.27  the state's compulsory attendance laws, which is not operated 
 10.28  for profit, and which adheres to the provisions of the Civil 
 10.29  Rights Act of 1964 and chapter 363.  For the purposes of this 
 10.30  clause, "tuition" includes fees or tuition as defined in section 
 10.31  290.0674, subdivision 1, clause (1).  As used in this clause, 
 10.32  "textbooks" includes books and other instructional materials and 
 10.33  equipment used in elementary and secondary schools in teaching 
 10.34  only those subjects legally and commonly taught in public 
 10.35  elementary and secondary schools in this state.  Equipment 
 10.36  expenses qualifying for deduction includes expenses as defined 
 11.1   and limited in section 290.0674, subdivision 1, clause (3).  
 11.2   "Textbooks" does not include instructional books and materials 
 11.3   used in the teaching of religious tenets, doctrines, or worship, 
 11.4   the purpose of which is to instill such tenets, doctrines, or 
 11.5   worship, nor does it include books or materials for, or 
 11.6   transportation to, extracurricular activities including sporting 
 11.7   events, musical or dramatic events, speech activities, driver's 
 11.8   education, or similar programs; 
 11.9      (4) to the extent included in federal taxable income, 
 11.10  distributions from a qualified governmental pension plan, an 
 11.11  individual retirement account, simplified employee pension, or 
 11.12  qualified plan covering a self-employed person that represent a 
 11.13  return of contributions that were included in Minnesota gross 
 11.14  income in the taxable year for which the contributions were made 
 11.15  but were deducted or were not included in the computation of 
 11.16  federal adjusted gross income.  The distribution shall be 
 11.17  allocated first to return of contributions until the 
 11.18  contributions included in Minnesota gross income have been 
 11.19  exhausted.  This subtraction applies only to contributions made 
 11.20  in a taxable year prior to 1985; 
 11.21     (5) income as provided under section 290.0802; 
 11.22     (6) the amount of unrecovered accelerated cost recovery 
 11.23  system deductions allowed under subdivision 19g; 
 11.24     (7) to the extent included in federal adjusted gross 
 11.25  income, income realized on disposition of property exempt from 
 11.26  tax under section 290.491; 
 11.27     (8) to the extent not deducted in determining federal 
 11.28  taxable income, the amount paid for health insurance of 
 11.29  self-employed individuals as determined under section 162(l) of 
 11.30  the Internal Revenue Code, except that the 25 percent limit does 
 11.31  not apply.  If the taxpayer deducted insurance payments under 
 11.32  section 213 of the Internal Revenue Code of 1986, the 
 11.33  subtraction under this clause must be reduced by the lesser of: 
 11.34     (i) the total itemized deductions allowed under section 
 11.35  63(d) of the Internal Revenue Code, less state, local, and 
 11.36  foreign income taxes deductible under section 164 of the 
 12.1   Internal Revenue Code and the standard deduction under section 
 12.2   63(c) of the Internal Revenue Code; or 
 12.3      (ii) the lesser of (A) the amount of insurance qualifying 
 12.4   as "medical care" under section 213(d) of the Internal Revenue 
 12.5   Code to the extent not deducted under section 162(1) of the 
 12.6   Internal Revenue Code or excluded from income or (B) the total 
 12.7   amount deductible for medical care under section 213(a); 
 12.8      (9) the exemption amount allowed under Laws 1995, chapter 
 12.9   255, article 3, section 2, subdivision 3; 
 12.10     (10) to the extent included in federal taxable income, 
 12.11  postservice benefits for youth community service under section 
 12.12  121.707 for volunteer service under United States Code, title 
 12.13  42, section 5011(d), as amended; and 
 12.14     (11) the amount of income or gain included in federal 
 12.15  taxable income under section 1366 of the Internal Revenue Code 
 12.16  flowing from a corporation that has a valid election in effect 
 12.17  for the taxable year under section 1362 of the Internal Revenue 
 12.18  Code which is not allowed to be an "S" corporation under section 
 12.19  290.9725; and 
 12.20     (12) the amount deposited during the calendar year by an 
 12.21  account holder in a family asset account as provided in sections 
 12.22  2 to 8. 
 12.23     Sec. 11.  Minnesota Statutes 1996, section 290.06, is 
 12.24  amended by adding a subdivision to read: 
 12.25     Subd. 26.  [CREDIT FOR CONTRIBUTIONS TO FAMILY ASSETS FOR 
 12.26  INDEPENDENCE INITIATIVES.] A taxpayer may take a credit against 
 12.27  the tax due under this chapter equal to 50 percent of the amount 
 12.28  contributed during the taxable year to a fiduciary organization 
 12.29  selected under section 5 to operate a family assets for 
 12.30  independence initiative, provided the contributions are used for 
 12.31  the purpose of making matching contributions to family asset 
 12.32  accounts.  The credit for the taxable year may not exceed the 
 12.33  liability for tax under this chapter for the taxable year. 
 12.34     Sec. 12.  [APPROPRIATIONS.] 
 12.35     $....... is appropriated from the general fund to the 
 12.36  commissioner of children, families, and learning to establish 
 13.1   the Minnesota family assets for independence initiative.  No 
 13.2   more than ... percent of the appropriation may be expended for 
 13.3   the cost of administration of this act by the fiduciary 
 13.4   organizations and no more than ... percent may be expended for 
 13.5   the cost to the state for administration of this program.  The 
 13.6   appropriation is available until expended.