Minnesota HF2303 simplifies the income definition used to calculate homestead credit refunds.
Minnesota HF2303 amends the definition of income for calculating homestead credit refunds. It specifies that income includes federal adjusted gross income plus nontaxable income and certain retirement distributions, while excluding certain pensions, alimony, and veterans' disability compensation. The bill also adjusts the exemption amounts for dependents and individuals with disabilities or over 65 years old. This change aims to streamline the calculation process for property tax refunds.
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