Individual income and corporate franchise taxes; federal changes to section 179 expensing conformed.

Taxes

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Anderson, P. E., Davids, Allen, Bakeberg
Last action: 2026-04-07
Official status: Author added Bakeberg
Effective date: Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

2026-04-07 House
Author added Bakeberg
2026-03-05 House
Author added Allen
2026-03-02 House
Introduction and first reading, referred to Taxes

Official Summary Text

Individual income and corporate franchise taxes; federal changes to section 179 expensing conformed.

Current Bill Text

Read the full stored bill text

A bill for an act

relating to taxation; individual income and corporate franchise taxes; conforming

to federal changes to section 179 expensing; amending Minnesota Statutes 2024,

section 290.01, subdivision 31.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2024, section 290.01, subdivision 31, is amended to read:

Subd. 31.

Internal Revenue Code.

Unless specifically defined otherwise, "Internal

Revenue Code" means the Internal Revenue Code of 1986, as amended through May 1,

2023
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, except it also includes section 70306 of Public Law 119-21, relating to section 179

expensing
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. Internal Revenue Code also includes any uncodified provision in federal law

that relates to provisions of the Internal Revenue Code that are incorporated into Minnesota

law.

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EFFECTIVE DATE.

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This section is effective the day following final enactment, except

the changes incorporated by federal changes are effective retroactively at the same time the

changes were effective for federal purposes.

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