| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 1.1 A bill for an act | |
| 2 | 2 | 1.2 relating to taxation; individual income; providing a subtraction for overtime pay; | |
| 3 | 3 | 1.3 amending Minnesota Statutes 2024, section 290.0132, by adding a subdivision. | |
| 4 | 4 | 1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: | |
| 5 | 5 | 1.5 Section 1. Minnesota Statutes 2024, section 290.0132, is amended by adding a subdivision | |
| 6 | 6 | 1.6to read: | |
| 7 | 7 | 1.7 Subd. 36.Overtime pay.(a) The amount of overtime pay is a subtraction. | |
| 8 | 8 | 1.8 (b) For the purposes of this subdivision, "overtime pay" means wages, salaries, tips, and | |
| 9 | 9 | 1.9other employee compensation earned for hours worked in any workweek in excess of the | |
| 10 | 10 | 1.10maximum workweek applicable to the employee under chapter 177 or United States Code, | |
| 11 | 11 | 1.11title 29, section 207. | |
| 12 | 12 | 1.12 EFFECTIVE DATE.This section is effective for taxable years beginning after December | |
| 13 | 13 | 1.1331, 2024. | |
| 14 | 14 | 1Section 1. | |
| 15 | 15 | REVISOR EAP/MI 25-0074212/13/24 | |
| 16 | 16 | State of Minnesota | |
| 17 | 17 | This Document can be made available | |
| 18 | 18 | in alternative formats upon request | |
| 19 | 19 | HOUSE OF REPRESENTATIVES | |
| 20 | 20 | H. F. No. 415 | |
| 21 | 21 | NINETY-FOURTH SESSION | |
| 22 | 22 | Authored by Franson and Warwas02/13/2025 | |
| 23 | 23 | The bill was read for the first time and referred to the Committee on Taxes |