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Minnesota Legislature

Office of the Revisor of Statutes

SF 2647

as introduced - 86th Legislature (2009 - 2010) Posted on 02/15/2010 03:57pm

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; eliminating the income-based reduction of the individual
income tax credit for prior military service; amending Minnesota Statutes 2008,
section 290.0677, subdivision 1a.

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

Section 1.

Minnesota Statutes 2008, section 290.0677, subdivision 1a, is amended to
read:


Subd. 1a.

Credit allowed; past military service.

(a) A qualified individual is
allowed a credit against the tax imposed under this chapter for past military service. The
credit equals $750. deleted text beginThe credit allowed under this subdivision is reduced by ten percent of
adjusted gross income in excess of $30,000, but in no case is the credit less than zero.
deleted text end

(b) For a nonresident or a part-year resident, the credit under this subdivision
must be allocated based on the percentage calculated under section 290.06, subdivision
2c, paragraph (e).

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxable years beginning after
December 31, 2010.
new text end