SF 1794

as introduced - 87th Legislature (2011 - 2012) Posted on 02/14/2012 09:23am

A bill for an act
relating to taxation; income; military service credit; eliminating income-based
reduction; amending Minnesota Statutes 2010, section 290.0677, subdivision 1a.

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

Section 1.

Minnesota Statutes 2010, 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 begin The 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, 2011.
new text end