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HF 4

1st Engrossment - 94th Legislature (2025 - 2026) Posted on 03/06/2025 03:37pm

KEY: stricken = removed, old language.
underscored = added, new language.
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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 onetime 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 one
of the two most recent forecasts for the general fund, as the legislature may determine, for
a fiscal biennium beginning July 1 in an odd-numbered calendar year in which the legislature
is currently seated in regular session.
 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 projected
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
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