HF 2729

as introduced - 94th Legislature (2025 - 2026) Posted on 04/01/2025 12:38pm

A bill for an act
relating to taxation; appropriating money for an expanded corporate tax compliance
initiative.

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

Section 1. new text begin APPROPRIATION; EXPANDED CORPORATE TAX COMPLIANCE
INITIATIVE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $10,000,000 in fiscal year 2026 is appropriated from
the general fund to the commissioner of revenue to develop and implement an expanded
corporate tax compliance initiative. This funding is available until July 1, 2029.
new text end

new text begin Subd. 2. new text end

new text begin Requirements. new text end

new text begin For the purposes of subdivision 1, "expanded corporate tax
compliance initiative" means a program to enhance tax compliance and enforcement activities
under the corporate franchise tax, including the identification and collection of tax liabilities
from corporations that currently do not accurately report taxable income, calculate a credit,
or otherwise pay all taxes owed. The initiative must prioritize compliance and enforcement
activities among corporations reporting $25,000,000 or more in Minnesota sales or gross
receipts for a taxable year.
new text end

new text begin Subd. 3. new text end

new text begin Restriction. new text end

new text begin Amounts appropriated under this section must supplement and
not supplant other amounts available for the purposes described in this section.
new text end