as introduced - 93rd Legislature (2023 - 2024) Posted on 04/12/2024 12:10am
A bill for an act
relating to taxation; individual income; providing a tax credit for the removal of
trees infested by the emerald ash borer; amending Minnesota Statutes 2022, section
290.06, by adding a subdivision.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2022, section 290.06, is amended by adding a subdivision
to read:
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(a) An individual taxpayer is allowed a credit
against the tax imposed by this chapter for the cost of removing a tree that has been found
to be infested by the emerald ash borer and has been required by state law or by municipal
ordinance to be treated or removed.
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(b) The credit equals fifty percent of the cost paid for the removal of each tree. A
taxpayer's total credit may not exceed $1,000. The credit may not exceed the taxpayer's
liability for tax under this chapter.
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(c) For a nonresident or part-year resident, the credit under this section must be allocated
using the percentage calculated in section 290.06, subdivision 2c, paragraph (e).
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This section is effective for taxable years beginning after December
31, 2023.
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