SF 4382

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/31/2022 08:39am

A bill for an act
relating to taxation; individual income; providing a refundable credit for certain
heat and energy costs; proposing coding for new law in Minnesota Statutes, chapter
290.

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

Section 1.

new text begin [290.0693] CREDIT FOR CERTAIN HEAT AND ENERGY COSTS.
new text end

new text begin Subdivision 1. new text end

new text begin Credit allowed; refundable. new text end

new text begin (a) An individual is allowed a credit for
purchases of residential heating fuels, as defined under section 297A.67, subdivision 15,
and residential water services, as defined under section 297A.67, subdivision 16. The credit
may not be claimed for any purchase for which the individual is reimbursed or otherwise
compensated.
new text end

new text begin (b) The credit equals the lesser of:
new text end

new text begin (1) 25 percent of the amount paid for residential heating fuels and residential water
services, including any applicable taxes; or
new text end

new text begin (2) $2,000 for married taxpayers filing a joint return and $1,000 for all other filers.
new text end

new text begin (c) If the amount of credit that the claimant is eligible to receive under this section
exceeds the claimant's tax liability under this chapter, the commissioner shall refund the
excess to the claimant.
new text end

new text begin (d) For part-year residents, the credit must be allocated based on the percentage calculated
under section 290.06, subdivision 2c, paragraph (e).
new text end

new text begin Subd. 2. new text end

new text begin Appropriation. new text end

new text begin An amount sufficient to pay the refunds required by this section
is appropriated to the commissioner from the general fund.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxable years beginning after December
31, 2021, and before ......
new text end