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Minnesota Legislature

Office of the Revisor of Statutes

SF 1187

as introduced - 91st Legislature (2019 - 2020) Posted on 02/14/2019 03:00pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to taxation; individual income; establishing a subtraction for certain pension
benefits; amending Minnesota Statutes 2018, section 290.0132, by adding a
subdivision; repealing Minnesota Statutes 2018, section 424A.10, subdivision 4.

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

Section 1.

Minnesota Statutes 2018, section 290.0132, is amended by adding a subdivision
to read:


new text begin Subd. 27. new text end

new text begin Volunteer firefighter pension benefits. new text end

new text begin Benefits received under the retirement
plan established in chapter 353G or under a plan governed by chapter 424A are a subtraction,
provided that a taxpayer has been credited with at least 20 years of service as a volunteer
firefighter under at least one of the plans established in chapter 353G or governed by chapter
424A. For purposes of this subdivision, "volunteer firefighter" has the meaning given in
section 353G.01, subdivision 15. For benefits received as a lump sum payment, the
subtraction is limited to $50,000 and may be claimed in one taxable year only. For benefits
received on a monthly basis, the subtraction is limited to $6,000 in a taxable year.
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, 2018.
new text end

Sec. 2. new text begin REPEALER.
new text end

new text begin Minnesota Statutes 2018, section 424A.10, subdivision 4, new text end new text begin is repealed.
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, 2018.
new text end

APPENDIX

Repealed Minnesota Statutes: 19-0463

424A.10 STATE SUPPLEMENTAL BENEFIT; VOLUNTEER FIREFIGHTERS.

Subd. 4.

In lieu of income tax exclusion.

(a) The supplemental benefit provided by this section is in lieu of the state income tax exclusion for lump-sum distributions of retirement benefits paid to volunteer firefighters.

(b) If the law is modified to exclude or exempt volunteer firefighters' lump-sum distributions from state income taxation, the supplemental benefits under this section are no longer payable, beginning with the first calendar year in which the exclusion or exemption is effective. This subdivision does not apply to exemption of all or part of a lump-sum distribution under section 290.032 or 290.0802.