Minnesota HF4040 proposes advance payments of the K-12 education credit and requires a report on the feasibility of using electronic benefits.

Minnesota HF4040 amends the state's tax code to allow taxpayers to receive advance payments of the K-12 education credit. These payments, which equal half the credit amount from the previous year, can be up to $750 per qualifying child. The bill also mandates a report by the commissioner of revenue on the feasibility of using electronic benefits transfer cards for these payments. The report must evaluate the costs, advantages, and disadvantages of this method, and is due by January 15, 2027.

Minnesota HF4040 proposes advance payments of the K-12 education credit and requires a report on the feasibility of using electronic benefits.

Minnesota HF4040 amends the state's tax code to allow taxpayers to receive advance payments of the K-12 education credit. These payments, which equal half the credit amount from the previous year, can be up to $750 per qualifying child. The bill also mandates a report by the commissioner of revenue on the feasibility of using electronic benefits transfer cards for these payments. The report must evaluate the costs, advantages, and disadvantages of this method, and is due by January 15, 2027.