Minnesota modifies individual income and corporate franchise taxes, property taxes, and local government aids.

Minnesota HF2274 modifies individual income and corporate franchise taxes, property taxes, and local government aids. It introduces a subtraction for discharges of coerced debt and modifies certain definitions of income. The bill also adjusts the child tax credit and housing credit, and provides an advance homestead credit for seniors. It modifies property classifications and establishes certain property tax exemptions. Additionally, it changes the political contribution refund, beginning farmer credit, and land bank organization rules.

Minnesota modifies individual income and corporate franchise taxes, property taxes, and local government aids.

Minnesota HF2274 modifies individual income and corporate franchise taxes, property taxes, and local government aids. It introduces a subtraction for discharges of coerced debt and modifies certain definitions of income. The bill also adjusts the child tax credit and housing credit, and provides an advance homestead credit for seniors. It modifies property classifications and establishes certain property tax exemptions. Additionally, it changes the political contribution refund, beginning farmer credit, and land bank organization rules.