Minnesota Senate Bill SF2548 Introduced / Bill

                    1.1	A bill for an act​
1.2 relating to taxation; individual income; establishing a baby bonus within the​
1.3 Minnesota child credit; amending Minnesota Statutes 2024, section 290.0661, by​
1.4 adding a subdivision.​
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:​
1.6 Section 1. Minnesota Statutes 2024, section 290.0661, is amended by adding a subdivision​
1.7to read:​
1.8 Subd. 3a.Baby bonus.(a) The credit amount under subdivision 3 is increased by $400​
1.9for each qualifying child of the taxpayer that was born during the taxable year.​
1.10 (b) The commissioner must disregard credit amounts under this subdivision for the​
1.11purposes of determining a taxpayer's minimum credit amount under subdivision 9.​
1.12 (c) The commissioner may establish a process to allow a taxpayer to request an advance​
1.13payment of the additional amount under this subdivision.​
1.14 EFFECTIVE DATE.This section is effective for taxable years beginning after December​
1.1531, 2024.​
1​Section 1.​
25-04561 as introduced​03/05/25 REVISOR EAP/BM​
SENATE​
STATE OF MINNESOTA​
S.F. No. 2548​NINETY-FOURTH SESSION​
(SENATE AUTHORS: OUMOU VERBETEN)​
OFFICIAL STATUS​D-PG​DATE​
Introduction and first reading​03/13/2025​
Referred to Taxes​