HF 2996

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/20/2023 02:12pm

A bill for an act
relating to taxation; proposing an amendment to the Minnesota Constitution, article
XIII, adding a new section requiring tax refunds of a budget surplus.

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

Section 1. new text begin CONSTITUTIONAL AMENDMENT PROPOSED; TAXPAYER'S BILL
OF RIGHTS.
new text end

new text begin An amendment to the Minnesota Constitution is proposed to the people. If the amendment
is adopted, a section shall be added to article XIII, to read:
new text end

new text begin Sec. 13. new text end

new text begin The amount of a positive unrestricted budgetary general fund balance at the
close of the biennium, less any amounts set aside by law for maintaining a cash flow account
for spending obligations or maintaining or establishing a budget reserve, must be refunded
to the taxpayers of this state. The amount of the positive balance and the manner and timing
of refunds must be determined by standards or methods provided by law. Amounts refunded
to a taxpayer must not be considered income for purposes of any state tax imposed or public
benefit provided.
new text end

Sec. 2. new text begin SUBMISSION TO VOTERS.
new text end

new text begin The proposed amendment must be submitted to the people at the 2024 general election.
The question submitted must be:
new text end

new text begin "Shall the Minnesota Constitution be amended to require the refund of a budget surplus
to the taxpayers of the state?
new text end

	new text begin Yes ............ . new text end
	new text begin No ............ . new text end	new text begin " new text end