Minnesota HF4647 excludes scholarships, dependent flexible spending accounts, and health flexible spending accounts from the income definition used.

Minnesota HF4647 amends the homestead credit refund program by excluding certain types of income from the definition of "income." Specifically, it removes scholarships, dependent flexible spending accounts, and health flexible spending accounts from the income calculation. This change aims to provide more comprehensive relief to eligible individuals by ensuring these specific financial benefits are not considered when determining their homestead credit refund eligibility. The amendment takes effect starting with refunds based on property taxes payable in 2027.

Minnesota HF4647 excludes scholarships, dependent flexible spending accounts, and health flexible spending accounts from the income definition used.

Minnesota HF4647 amends the homestead credit refund program by excluding certain types of income from the definition of "income." Specifically, it removes scholarships, dependent flexible spending accounts, and health flexible spending accounts from the income calculation. This change aims to provide more comprehensive relief to eligible individuals by ensuring these specific financial benefits are not considered when determining their homestead credit refund eligibility. The amendment takes effect starting with refunds based on property taxes payable in 2027.