HF 4

as introduced - 94th Legislature (2025 - 2026) Posted on 02/10/2025 04:10pm

A bill for an act
relating to taxation; proposing an amendment to the Minnesota Constitution by
adding a section to article X; requiring that a portion of a projected budget surplus
be returned to state taxpayers.

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

Section 1. new text begin CONSTITUTIONAL AMENDMENT PROPOSED.
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 X, to read:
new text end

new text begin Sec. 9. new text end

new text begin The Minnesota tax relief account is established in the state treasury. Money in
the account shall be appropriated in each biennium by law for the purposes of returning
excess tax collections to the property and income taxpayers of this state through refunds,
which shall not be taxable under the laws of this state, or to offset the cost to the state general
fund for tax reductions. No appropriations or offsets for tax reductions shall be made for
any amount that exceeds a property or income taxpayer's liability for tax. The account shall
be funded by depositing in the account the amount of projected revenues in the general fund
that exceeds 105 percent of projected expenditures, as determined in the last biennial budget
forecast for the general fund in the most recently completed calendar year.
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 2026 general election.
The question submitted must be:
new text end

new text begin "Shall the Minnesota Constitution be amended to create a Minnesota tax relief account
funded by the amount of projected revenues that exceed 105 percent of expenditures, that
the legislature must use to refund or reduce state taxes?
new text end

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