SF 5191

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/26/2024 08:46am

A bill for an act
relating to taxation; individual income; providing a tax credit for the removal of
trees infested by the emerald ash borer; amending Minnesota Statutes 2022, section
290.06, by adding a subdivision.

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

Section 1.

Minnesota Statutes 2022, section 290.06, is amended by adding a subdivision
to read:

new text begin Subd. 41. new text end

new text begin Emerald ash borer credit. new text end

new text begin (a) An individual taxpayer is allowed a credit
against the tax imposed by this chapter for the cost of removing a tree that has been found
to be infested by the emerald ash borer and has been required by state law or by municipal
ordinance to be treated or removed.
new text end

new text begin (b) The credit equals fifty percent of the cost paid for the removal of each tree. A
taxpayer's total credit may not exceed $1,000. The credit may not exceed the taxpayer's
liability for tax under this chapter.
new text end

new text begin (c) For a nonresident or part-year resident, the credit under this section must be allocated
using the percentage calculated in section 290.06, subdivision 2c, paragraph (e).
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, 2023.
new text end