| 1 | 1 | | 1.1 A bill for an act |
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| 2 | 2 | | 1.2 relating to taxation; individual income; establishing an income tax subtraction for |
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| 3 | 3 | | 1.3 employee student loan payments by critical access dental clinics; amending |
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| 4 | 4 | | 1.4 Minnesota Statutes 2024, section 290.0132, by adding a subdivision. |
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| 5 | 5 | | 1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: |
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| 6 | 6 | | 1.6 Section 1. Minnesota Statutes 2024, section 290.0132, is amended by adding a subdivision |
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| 7 | 7 | | 1.7to read: |
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| 8 | 8 | | 1.8 Subd. 36.Student loan education assistance paid by critical access dental clinics.(a) |
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| 9 | 9 | | 1.9The amount of student loan educational assistance payments that is received from a critical |
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| 10 | 10 | | 1.10access dental clinic is a subtraction. |
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| 11 | 11 | | 1.11 (b) For the purposes of this subdivision, the following terms have the meanings given. |
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| 12 | 12 | | 1.12 (c) "Critical access dental clinic" means a dentist or dental clinic that is designated as a |
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| 13 | 13 | | 1.13critical access dental provider under section 256B.76, subdivision 4. |
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| 14 | 14 | | 1.14 (d) "Student loan educational assistance payments" means payments by an employer on |
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| 15 | 15 | | 1.15the education loan of an employee that are included in the definition of educational assistance |
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| 16 | 16 | | 1.16under section 127(c)(1)(B) of the Internal Revenue Code, disregarding the expiration of |
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| 17 | 17 | | 1.17that clause. Student loan educational assistance payments are limited to amounts in excess |
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| 18 | 18 | | 1.18of the limit in section 127(a)(2) of the Internal Revenue Code. |
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| 19 | 19 | | 1.19 EFFECTIVE DATE.This section is effective for taxable years beginning after December |
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| 20 | 20 | | 1.2031, 2025. |
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| 21 | 21 | | 1Section 1. |
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| 22 | 22 | | REVISOR EAP/VJ 25-0417102/20/25 |
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| 23 | 23 | | State of Minnesota |
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| 24 | 24 | | This Document can be made available |
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| 25 | 25 | | in alternative formats upon request |
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| 26 | 26 | | HOUSE OF REPRESENTATIVES |
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| 27 | 27 | | H. F. No. 1974 |
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| 28 | 28 | | NINETY-FOURTH SESSION |
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| 29 | 29 | | Authored by Franson and Davids03/06/2025 |
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| 30 | 30 | | The bill was read for the first time and referred to the Committee on Taxes |
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