1.1 A bill for an act
1.2 relating to taxation; individual income; doubling the dependent exemption;
1.3 amending Minnesota Statutes 2024, section 290.0121, subdivisions 1, 3.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. Minnesota Statutes 2024, section 290.0121, subdivision 1, is amended to read:
1.6 Subdivision 1.Exemption amount.(a) A taxpayer's dependent exemption equals:
1.7 (1) the exemption amount multiplied by the number of individuals who are dependents,
1.8as defined in sections 151 and 152 of the Internal Revenue Code, of the taxpayer for the
1.9taxable year; minus
1.10 (2) the disallowed exemption amount under subdivision 2, but the remainder may not
1.11be less than zero.
1.12 (b) The exemption amount equals $4,250 $10,400.
1.13 EFFECTIVE DATE.This section is effective for taxable years beginning after December
1.1431, 2024.
1.15 Sec. 2. Minnesota Statutes 2024, section 290.0121, subdivision 3, is amended to read:
1.16 Subd. 3.Inflation adjustment.For taxable years beginning after December 31, 2019,
1.17the commissioner must adjust for inflation the exemption amount in subdivision 1, paragraph
1.18(b), and the threshold amounts in subdivision 2, as provided in section 270C.22. The statutory
1.19year is taxable year 2019 2025. The amounts as adjusted must be rounded down to the
1.20nearest $50 amount. The threshold amount for married individuals filing separate returns
1.21must be one-half of the adjusted amount for married individuals filing joint returns.
1Sec. 2.
REVISOR EAP/CH 25-0344202/07/25
State of Minnesota
This Document can be made available
in alternative formats upon request
HOUSE OF REPRESENTATIVES
H. F. No. 756
NINETY-FOURTH SESSION
Authored by Robbins02/13/2025
The bill was read for the first time and referred to the Committee on Taxes 2.1 EFFECTIVE DATE.This section is effective for taxable years beginning after December
2.231, 2025.
2Sec. 2.
REVISOR EAP/CH 25-0344202/07/25