SF 1916

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/10/2021 03:36pm

A bill for an act
relating to taxation; income; conforming to federal rules allowing a charitable
contribution deduction for taxpayers who do not elect to itemize deductions.

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

Section 1. new text begin CHARITABLE CONTRIBUTION DEDUCTION CONFORMITY.
new text end

new text begin Subdivision 1. new text end

new text begin Scope. new text end

new text begin This section applies for the purpose of calculating:
new text end

new text begin (1) net income, as defined in Minnesota Statutes, section 290.01, subdivision 19;
new text end

new text begin (2) income, as defined in Minnesota Statutes, section 290.0674, subdivision 2a;
new text end

new text begin (3) alternative minimum taxable income, as defined in Minnesota Statutes, section
290.091, subdivision 2;
new text end

new text begin (4) alternative minimum taxable income, as defined in Minnesota Statutes, section
290.0921, subdivision 3; and
new text end

new text begin (5) income, as defined in Minnesota Statutes, section 290A.03, subdivision 3.
new text end

new text begin Subd. 2. new text end

new text begin Adopting federal changes related to allowing a special charitable
contribution deduction. new text end

new text begin "Internal Revenue Code" has the meaning given in Minnesota
Statutes, section 290.01, subdivision 31, as amended through the date specified in that
subdivision, but including the deductions for charitable contributions allowed under:
new text end

new text begin (1) section 2204 of Public Law 116-136; and
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new text begin (2) section 212 of the Taxpayer Certainty and Disaster Tax Relief Act of 2020 in Public
Law 116-260.
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new text begin EFFECTIVE DATE. new text end

new text begin This section is effective retroactively at the same time the
provisions of federal law specified in subdivision 2 were effective for federal purposes.
new text end