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:
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(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.
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(b) The credit equals the lesser of:
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(1) 25 percent of the amount paid for residential heating fuels and residential water
services, including any applicable taxes; or
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(2) $2,000 for married taxpayers filing a joint return and $1,000 for all other filers.
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(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.
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(d) For part-year residents, the credit must be allocated based on the percentage calculated
under section 290.06, subdivision 2c, paragraph (e).
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An amount sufficient to pay the refunds required by this section
is appropriated to the commissioner from the general fund.
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This section is effective for taxable years beginning after December
31, 2021, and before ......
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