| 1 | 1 | | 1.1 A bill for an act |
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| 2 | 2 | | 1.2 relating to taxation; proposing an amendment to the Minnesota Constitution by |
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| 3 | 3 | | 1.3 adding a section to article X; requiring that a portion of a projected budget surplus |
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| 4 | 4 | | 1.4 be returned to state taxpayers. |
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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. CONSTITUTIONAL AMENDMENT PROPOSED. |
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| 7 | 7 | | 1.7 An amendment to the Minnesota Constitution is proposed to the people. If the amendment |
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| 8 | 8 | | 1.8is adopted, a section shall be added to article X, to read: |
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| 9 | 9 | | 1.9 Sec. 9.The Minnesota tax relief fund is established in the state treasury. The purpose |
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| 10 | 10 | | 1.10of the fund is to set aside surplus tax revenue that must be returned to the taxpayers of this |
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| 11 | 11 | | 1.11state each biennium, as required by this section. |
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| 12 | 12 | | 1.12 If, on the basis of a November forecast of general fund revenues and expenditures, which |
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| 13 | 13 | | 1.13shall be provided by law, there will be a positive unrestricted general fund balance at the |
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| 14 | 14 | | 1.14close of the biennium, the commissioner shall transfer from the general fund to the tax relief |
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| 15 | 15 | | 1.15fund the amount of the tax relief fund surplus, which shall be the amount, if any, by which |
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| 16 | 16 | | 1.16projected revenues exceed projected expenditures by 105 percent. Projected expenditures |
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| 17 | 17 | | 1.17shall not include any amount required by law to be set aside in a budget reserve account, |
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| 18 | 18 | | 1.18but nothing in this section shall be construed to prohibit the legislature from allocating |
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| 19 | 19 | | 1.19projected revenues that do not exceed 105 percent of projected expenditures to a budget |
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| 20 | 20 | | 1.20reserve. |
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| 21 | 21 | | 1.21 Money in the tax relief fund may only be used to return the tax relief fund surplus to the |
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| 22 | 22 | | 1.22property and income taxpayers of this state through onetime refunds, which shall not be |
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| 23 | 23 | | 1.23taxable under the laws of this state, or to offset the cost to the state general fund for onetime |
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| 24 | 24 | | 1Section 1. |
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| 26 | 26 | | 55 |
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| 27 | 27 | | Printed |
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| 28 | 28 | | Page No.State of Minnesota |
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| 29 | 29 | | This Document can be made available |
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| 30 | 30 | | in alternative formats upon request |
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| 31 | 31 | | HOUSE OF REPRESENTATIVES |
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| 32 | 32 | | H. F. No. 4 |
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| 33 | 33 | | NINETY-FOURTH SESSION |
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| 34 | 34 | | Authored by Johnson, W.; Niska; Schultz; Duran; Perryman and others02/06/2025 |
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| 35 | 35 | | The bill was read for the first time and referred to the Committee on Taxes |
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| 36 | 36 | | Adoption of Report: Amended and re-referred to the Committee on Rules and Legislative Administration02/27/2025 |
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| 37 | 37 | | Adoption of Report: Re-referred to the Committee on Ways and Means03/06/2025 |
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| 38 | 38 | | Adoption of Report: Placed on the General Register as Amended03/10/2025 |
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| 39 | | - | Read for the Second Time |
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| 40 | | - | Calendar for the Day, Amended03/17/2025 |
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| 41 | | - | Read Third Time as Amended |
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| 42 | | - | Bill was not passed 2.1tax reductions. No refunds or offsets for tax reductions shall be made for any amount that |
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| 43 | | - | 2.2exceeds a property or income taxpayer's liability for tax, or to offset a tax reduction or |
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| 44 | | - | 2.3provide a refund to a taxpayer whose income exceeded $1,000,000 in the year for which |
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| 45 | | - | 2.4the refund was provided. |
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| 46 | | - | 2.5 Sec. 2. SUBMISSION TO VOTERS. |
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| 47 | | - | 2.6 The proposed amendment must be submitted to the people at the 2026 general election. |
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| 48 | | - | 2.7The question submitted must be: |
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| 49 | | - | 2.8 "Shall the Minnesota Constitution be amended to create a Minnesota tax relief fund that |
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| 50 | | - | 2.9must be used to return projected surplus tax revenue to the income and property taxpayers |
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| 51 | | - | 2.10of this state for taxpayers with incomes less than $1,000,000? |
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| 52 | | - | 2.11 Yes ................... |
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| 53 | | - | "2.12 No .................... |
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| 39 | + | Read for the Second Time 2.1tax reductions. No refunds or offsets for tax reductions shall be made for any amount that |
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| 40 | + | 2.2exceeds a property or income taxpayer's liability for tax. |
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| 41 | + | 2.3 Sec. 2. SUBMISSION TO VOTERS. |
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| 42 | + | 2.4 The proposed amendment must be submitted to the people at the 2026 general election. |
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| 43 | + | 2.5The question submitted must be: |
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| 44 | + | 2.6 "Shall the Minnesota Constitution be amended to create a Minnesota tax relief fund that |
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| 45 | + | 2.7must be used to return projected surplus tax revenue to the income and property taxpayers |
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| 46 | + | 2.8of this state? |
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| 47 | + | 2.9 Yes ................... |
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| 48 | + | "2.10 No .................... |
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