SF 700

as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to income taxation; providing that the 
  1.3             location of financial accounts may not be considered 
  1.4             in determining residency; amending Minnesota Statutes 
  1.5             2000, section 290.01, subdivision 7. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 2000, section 290.01, 
  1.8   subdivision 7, is amended to read: 
  1.9      Subd. 7.  [RESIDENT.] The term "resident" means (1) any 
  1.10  individual domiciled in Minnesota, except that an individual is 
  1.11  not a "resident" for the period of time that the individual is a 
  1.12  "qualified individual" as defined in section 911(d)(1) of the 
  1.13  Internal Revenue Code, if the qualified individual notifies the 
  1.14  county within three months of moving out of the country that 
  1.15  homestead status be revoked for the Minnesota residence of the 
  1.16  qualified individual, and the property is not classified as a 
  1.17  homestead while the individual remains a qualified individual; 
  1.18  and (2) any individual domiciled outside the state who maintains 
  1.19  a place of abode in the state and spends in the aggregate more 
  1.20  than one-half of the tax year in Minnesota, unless the 
  1.21  individual or the spouse of the individual is in the armed 
  1.22  forces of the United States, or the individual is covered under 
  1.23  the reciprocity provisions in section 290.081. 
  1.24     For purposes of this subdivision, presence within the state 
  1.25  for any part of a calendar day constitutes a day spent in the 
  2.1   state.  Individuals shall keep adequate records to substantiate 
  2.2   the days spent outside the state. 
  2.3      The term "abode" means a dwelling maintained by an 
  2.4   individual, whether or not owned by the individual and whether 
  2.5   or not occupied by the individual, and includes a dwelling place 
  2.6   owned or leased by the individual's spouse. 
  2.7      In determining if the individual is domiciled in Minnesota, 
  2.8   neither the commissioner nor any court shall may consider: 
  2.9      (1) charitable contributions made by an the individual 
  2.10  within or without the state in determining if the individual is 
  2.11  domiciled in Minnesota; or 
  2.12     (2) the location of a bank or other financial institution 
  2.13  with which the individual has an account, loan, or other 
  2.14  contractual relationship. 
  2.15     [EFFECTIVE DATE.] This section is effective the day 
  2.16  following final enactment.