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HF 4270

as introduced - 91st Legislature (2019 - 2020) Posted on 03/09/2020 01:29pm

KEY: stricken = removed, old language.
underscored = added, new language.
Line numbers 1.1 1.2 1.3 1.4
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A bill for an act
relating to taxation; individual income; requiring the commissioner of revenue to
distribute income tax refunds; appropriating money.

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

Section 1. new text beginTHE GIVE IT BACK ACT.
new text end

new text begin Subdivision 1. new text end

new text begin Short title. new text end

new text begin This section may be cited as the "Give It Back Act."
new text end

new text begin Subd. 2. new text end

new text begin Individual income tax refund required. new text end

new text begin By October 15, 2020, the
commissioner of revenue must pay each individual income taxpayer a refund, in accordance
with this section.
new text end

new text begin Subd. 3. new text end

new text begin Refund amount. new text end

new text begin (a) For married taxpayers filing a joint return, the refund
equals the lesser of:
new text end

new text begin (1) the sum of the taxpayer's tax year 2018 and tax year 2019 individual income tax
liability; or
new text end

new text begin (2) $2,000.
new text end

new text begin (b) For all other taxpayers, the refund equals the lesser of:
new text end

new text begin (1) the sum of the taxpayer's tax year 2018 and tax year 2019 individual income tax
liability; or
new text end

new text begin (2) $1,000.
new text end

new text begin (c) For a taxpayer whose total liability in tax years 2018 and 2019 was negative, the
refund amount equals $0.
new text end

new text begin Subd. 4. new text end

new text begin Definitions. new text end

new text begin For the purposes of this section:
new text end

new text begin (1) "tax year 2018" means taxable years beginning after December 31, 2017, and before
January 1, 2019; and
new text end

new text begin (2) "tax year 2019" means taxable years beginning after December 31, 2018, and before
January 1, 2020.
new text end

new text begin Subd. 5. new text end

new text begin Appropriation. new text end

new text begin An amount sufficient to pay the refunds required under this
section is appropriated from the general fund to the commissioner of revenue in fiscal year
2021 for refunds under this section.
new text end