HF 4757

as introduced - 92nd Legislature (2021 - 2022) Posted on 04/07/2022 11:33am

A bill for an act
relating to state government; Minnesota farms and products humanitarian relief
aid for Ukraine democracy; providing a tax credit for contributions to the Ukraine
relief account; appropriating money.

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

Section 1. new text begin MINNESOTA FARMS AND PRODUCTS HUMANITARIAN RELIEF
AID FOR UKRAINE DEMOCRACY.
new text end

new text begin Subdivision 1. new text end

new text begin Account created. new text end

new text begin The Ukraine relief account is created in the state
treasury. Amounts contributed to the account are appropriated to the commissioner of
administration to purchase products produced or grown in Minnesota to be distributed as
humanitarian aid as quickly as possible to the democratically elected president of Ukraine
or to leaders of neighboring democratic countries for the humanitarian benefit of the people
of Ukraine. The commissioner of administration must consult with the commissioner of
employment and economic development and the commissioner of agriculture to identify
products produced and grown in Minnesota.
new text end

new text begin Subd. 2. new text end

new text begin Gifts and grants. new text end

new text begin The commissioner of administration is authorized to accept
gifts and grants to augment the state's humanitarian aid as provided in subdivision 1. Gifts
and grants must be deposited in the account under subdivision 1.
new text end

new text begin Subd. 3. new text end

new text begin Report. new text end

new text begin The commissioner of administration must report monthly to the chairs
and ranking minority members of the committee in the senate with jurisdiction over finance
and the committee in the house of representatives with jurisdiction over ways and means
on the use of the funds appropriated in subdivision 1 and the gifts and grants received under
subdivision 2.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end

Sec. 2. new text begin CREDIT FOR CONTRIBUTIONS TO THE UKRAINE RELIEF ACCOUNT.
new text end

new text begin Subdivision 1. new text end

new text begin Credit allowed; refundable. new text end

new text begin (a) A credit is allowed against taxes imposed
by Minnesota Statutes, chapter 290, equal to 50 percent of the contributions made to the
Ukraine relief account in the taxable year. For married joint filers, the maximum credit
equals $200. For all other filers, the maximum credit equals $100.
new text end

new text begin (b) If the amount of credit that the claimant is eligible to receive under this section
exceeds the claimant's tax liability under Minnesota Statutes, chapter 290, the commissioner
shall refund the excess to the claimant.
new text end

new text begin (c) For a nonresident or part-year resident taxpayer, the credit must be allocated based
on the percentage calculated under Minnesota Statutes, section 290.06, subdivision 2c,
paragraph (e).
new text end

new text begin Subd. 2. new text end

new text begin Partnerships; multiple owners. new text end

new text begin Credits granted to a partnership, a limited
liability company taxed as a partnership, S corporation, or multiple owners of property are
passed through to the partners, members, shareholders, or owners, respectively, pro rata to
each partner, member, shareholder, or owner based on their share of the entity's assets or
as specially allocated in their organizational documents or any other executed agreement,
as of the last day of the taxable year.
new text end

new text begin Subd. 3. new text end

new text begin Appropriation. new text end

new text begin An amount sufficient to pay the refunds authorized under this
section is appropriated to the commissioner from the general fund.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxable years beginning after December
31, 2021, and before January 1, 2023.
new text end