as introduced - 92nd Legislature (2021 - 2022) Posted on 04/14/2021 08:05am
A bill for an act
relating to taxation; income and corporate franchise; providing a onetime subtraction
for peacetime emergency child care grants.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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(a) For taxable years beginning after December 31, 2019, and before January 1, 2021,
the amount of any grant received by an eligible program, as defined under Laws 2020,
chapter 71, article 1, section 2, subdivision 2, is a subtraction.
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(b) For purposes of this section, "subtraction" has the meaning provided in Minnesota
Statutes, section 290.0132, subdivision 1, or 290.0134, subdivision 1, whichever is applicable.
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This section is effective for taxable years beginning after December
31, 2019, and before January 1, 2021.
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