Vote Smart's Synopsis:

Vote to pass a bill that expands the Child Tax Credit and establishes a direct tax filing system in Minnesota.

Highlights:

• Amends modifying individual income taxes, corporate franchise taxes, property taxes, local government aids, minerals taxes, sales and use taxes, gross receipts taxes, excise taxes, and other tax-related provisions (Sec. 1). 

• Amends income tax credits and subtractions (Sec. 1). 

• Expands the child tax credit and providing for a minimum credit (Sec. 1). 

• Establishes non-conformity to certain worker classification rules (Sec. 1). 

• Requires disclosure of certain corporate franchise tax information (Sec. 1). 

• Establishes direct and free tax filing in the state of Minnesota (Sec. 1). 

• Requires a corporate tax base erosion study (Sec. 1). 

• Amends property tax exemptions, credits, classifications, and abatements (Sec. 1). 

• Amends local government aid calculations and payments and forgiving local government aid penalties (Sec. 1). 

• Establishes an advance homestead credit for seniors (Sec. 1). 

• Establishes transfers and distributions of proceeds of minerals taxes (Sec. 1). 

• Establishes issuance of revenue bonds (Sec. 1). 

• Establishes an amusement device gross receipts tax in lieu of the sales and use tax (Sec. 1). 

• Establishes certain sales and use tax construction exemptions (Sec. 1). 

• Repeals the tax on illegal marijuana and controlled substances (Sec. 1). 

• Authorizes cities and counties to impose local sales and use taxes for certain projects (Sec. 1). 

• Establishes a local sales tax equalization distribution (Sec. 1).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that expands the Child Tax Credit and establishes a direct tax filing system in Minnesota.

Highlights:

• Amends modifying individual income taxes, corporate franchise taxes, property taxes, local government aids, minerals taxes, sales and use taxes, gross receipts taxes, excise taxes, and other tax-related provisions (Sec. 1). 

• Amends income tax credits and subtractions (Sec. 1). 

• Expands the child tax credit and providing for a minimum credit (Sec. 1). 

• Establishes non-conformity to certain worker classification rules (Sec. 1). 

• Requires disclosure of certain corporate franchise tax information (Sec. 1). 

• Establishes direct and free tax filing in the state of Minnesota (Sec. 1). 

• Requires a corporate tax base erosion study (Sec. 1). 

• Amends property tax exemptions, credits, classifications, and abatements (Sec. 1). 

• Amends local government aid calculations and payments and forgiving local government aid penalties (Sec. 1). 

• Establishes an advance homestead credit for seniors (Sec. 1). 

• Establishes transfers and distributions of proceeds of minerals taxes (Sec. 1). 

• Establishes issuance of revenue bonds (Sec. 1). 

• Establishes an amusement device gross receipts tax in lieu of the sales and use tax (Sec. 1). 

• Establishes certain sales and use tax construction exemptions (Sec. 1). 

• Repeals the tax on illegal marijuana and controlled substances (Sec. 1). 

• Authorizes cities and counties to impose local sales and use taxes for certain projects (Sec. 1). 

• Establishes a local sales tax equalization distribution (Sec. 1).

Full Bill Text