| 1 | 1 | | 1.1 A bill for an act |
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| 2 | 2 | | 1.2 relating to taxation; appropriating money for an expanded corporate tax compliance |
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| 3 | 3 | | 1.3 initiative. |
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| 4 | 4 | | 1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: |
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| 5 | 5 | | 1.5 Section 1. APPROPRIATION; EXPANDED CORPORATE TAX COMPLIANCE |
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| 6 | 6 | | 1.6INITIATIVE. |
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| 7 | 7 | | 1.7 Subdivision 1.Appropriation.$10,000,000 in fiscal year 2026 is appropriated from |
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| 8 | 8 | | 1.8the general fund to the commissioner of revenue to develop and implement an expanded |
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| 9 | 9 | | 1.9corporate tax compliance initiative. This funding is available until July 1, 2029. |
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| 10 | 10 | | 1.10 Subd. 2.Requirements.For the purposes of subdivision 1, "expanded corporate tax |
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| 11 | 11 | | 1.11compliance initiative" means a program to enhance tax compliance and enforcement activities |
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| 12 | 12 | | 1.12under the corporate franchise tax, including the identification and collection of tax liabilities |
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| 13 | 13 | | 1.13from corporations that currently do not accurately report taxable income, calculate a credit, |
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| 14 | 14 | | 1.14or otherwise pay all taxes owed. The initiative must prioritize compliance and enforcement |
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| 15 | 15 | | 1.15activities among corporations reporting $25,000,000 or more in Minnesota sales or gross |
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| 16 | 16 | | 1.16receipts for a taxable year. |
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| 17 | 17 | | 1.17 Subd. 3.Restriction.Amounts appropriated under this section must supplement and |
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| 18 | 18 | | 1.18not supplant other amounts available for the purposes described in this section. |
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| 19 | 19 | | 1Section 1. |
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| 20 | 20 | | REVISOR EAP/MI 25-0500903/19/25 |
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| 21 | 21 | | State of Minnesota |
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| 22 | 22 | | This Document can be made available |
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| 23 | 23 | | in alternative formats upon request |
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| 24 | 24 | | HOUSE OF REPRESENTATIVES |
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| 25 | 25 | | H. F. No. 2729 |
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| 26 | 26 | | NINETY-FOURTH SESSION |
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| 27 | 27 | | Authored by Gomez, Elkins and Lee, K.,03/24/2025 |
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| 28 | 28 | | The bill was read for the first time and referred to the Committee on Taxes |
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