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SF 695

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
Rtf

Current Version - as introduced

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2.2

A bill for an act
 relating to MinnesotaCare; modifying the definition of
gross income; amending Minnesota Statutes 2004,
section 256L.01, subdivision 4.

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

Section 1.

Minnesota Statutes 2004, section 256L.01,
subdivision 4, is amended to read:


Subd. 4.

Gross individual or gross family income.

(a)
"Gross individual or gross family income" for nonfarm
self-employed means income calculated using as the baseline the
adjusted gross income reported on the applicant's federal income
tax form for the previous year and adding back in reported
depreciation, carryover loss, and net operating loss amounts
that apply to the business in which the family is currently
engaged.

(b) "Gross individual or gross family income" for farm
self-employed means income calculated using as the baseline the
adjusted gross income reported on the applicant's federal income
tax form for the previous year deleted text begin and adding back in reported
depreciation amounts that apply to the business in which the
family is currently engageddeleted text end .

(c) Applicants shall report the most recent financial
situation of the family if it has changed from the period of
time covered by the federal income tax form. The report may be
in the form of percentage increase or decrease.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2005,
or upon receipt of federal approval, whichever is later.
 new text end