Signed by Governor Tim Walz

Vote Smart's Synopsis:

Vote to pass a bill that amends state tax policies and rebate checks requirements.

Highlights:

• Establishes a child tax credit of up to $1,750 per child for households making less than $35,000 per year and repeals the tax credit for households making over $96,250 (Sec. 1-20).

• Expands and increases the K-12 education tax credit to $1,500 per child (Sec. ).

• Establishes a one-time rebate check of $260 for single filers making up to $75,000 per year and of $520 for couples making up to $150,000 per year (Sec. 1-20).

• Specifies that certain taxpayers shall receive an additional $260 check for up to 3 children (Sec. 1-20).

• Specifies that the provisions of this bill shall take effect for taxable years beginning December 31, 2022 (Sec. 1-20).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that amends state tax policies and rebate checks requirements.

Highlights:

• Establishes a child tax credit of up to $1,750 per child for households making less than $35,000 per year and repeals the tax credit for households making over $96,250 (Sec. 1-20).

• Expands and increases the K-12 education tax credit to $1,500 per child (Sec. ).

• Establishes a one-time rebate check of $260 for single filers making up to $75,000 per year and of $520 for couples making up to $150,000 per year (Sec. 1-20).

• Specifies that certain taxpayers shall receive an additional $260 check for up to 3 children (Sec. 1-20).

• Specifies that the provisions of this bill shall take effect for taxable years beginning December 31, 2022 (Sec. 1-20).

Full Bill Text