1997 Minnesota Statutes

     290.0671 Minnesota working family credit. 

    Subdivision 1.    Credit allowed.  An individual is 
 allowed a credit against the tax imposed by this chapter equal 
 to a percentage of the credit for which the individual is 
 eligible under section 32 of the Internal Revenue Code.  The 
 percentage is 15 for individuals without a qualifying child, and 
 25 for individuals with at least one qualifying child.  For 
 purposes of this section, "qualifying child" has the meaning 
 given in section 32(c)(3) of the Internal Revenue Code. 

    For a nonresident or part-year resident, the credit 
 determined under section 32 of the Internal Revenue Code must be 
 allocated based on the percentage calculated under section 
 290.06, subdivision 2c, paragraph (e). 

    For a person who was a resident for the entire tax year and 
 has earned income not subject to tax under this chapter, the 
 credit must be allocated based on the ratio of federal adjusted 
 gross income reduced by the earned income not subject to tax 
 under this chapter over federal adjusted gross income. 

    Subd. 2.    Credit name.  The credit allowed by this 
 section shall be known as the "Minnesota working family credit." 

    Subd. 3.    Reduction by alternative minimum tax 
 liability.  The amount of the credit allowed must be reduced 
 by the amount of the taxpayer's liability under section 290.091, 
 determined before the credit allowed by this section is 
 subtracted from regular tax liability. 

    Subd. 4.    Credit refundable.  If the amount of credit 
 which the claimant is eligible to receive under this section 
 exceeds the claimant's tax liability under this chapter, the 
 commissioner shall refund the excess to the claimant. 

    Subd. 5.    Calculation assistance.  Upon request of the 
 individual and submission of the necessary information, in the 
 form prescribed by the commissioner, the department of revenue 
 shall calculate the credit on behalf of the individual. 

    Subd. 6.    Appropriation.  An amount sufficient to pay 
 the refunds required by this section is appropriated to the 
 commissioner from the general fund.  

    HIST: 1991 c 291 art 6 s 27; 1992 c 511 art 6 s 19; art 7 s 
 14; 1993 c 375 art 8 s 9,14; 1994 c 587 art 1 s 24; 1Sp1997 c 4 
 art 13 s 2 

*   NOTE:  The amendment to subdivision 1 by Laws 1997, First 
*Special Session chapter 4, article 13, section 2, is effective 
*for tax years beginning after December 31, 1997, if on the basis 
*of the November 1997 forecast of general revenues and 
*expenditures, the commissioner of finance determines that there 
*will be positive unrestricted budgetary general fund balance at 
*the close of the biennium after taking into account the costs of 
*sections 290.01, subdivision 19b, 290.0671, subdivision 1, and 
*290.0674, as amended and added by Laws 1997, First Special 
*Session chapter 4, article 13, sections 1 to 3, after meeting 
*the requirements of section 16A.152, subdivision 2, clause (a).  
*Laws 1997, First Special Session chapter 4, article 13, section 
*5.