Plain English Breakdown
The plain English breakdown is still being put together. The official documents below are already here.
HF4000 • 2026
Individual income tax subtraction for capital gains on the sale of a principal residence established.
Individual income tax subtraction for capital gains on the sale of a principal residence established.
Taxes
Passed Legislature
This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.
Bill History
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2026-03-09
House
Author added Roach
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2026-03-05
House
Introduction and first reading, referred to Taxes
Official Summary Text
Individual income tax subtraction for capital gains on the sale of a principal residence established.
Current Bill Text
Read the full stored bill text
A bill for an act relating to taxation; income; establishing a subtraction for capital gains on the sale of a principal residence; amending Minnesota Statutes 2024, section 290.0132, by adding a subdivision. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: Section 1. Minnesota Statutes 2024, section 290.0132, is amended by adding a subdivision to read: new text begin Subd. 40. new text end new text begin Capital gains on the sale of principal residence. new text end new text begin The amount of gain from the sale of a principal residence in excess of the $250,000 or $500,000 limit in section 121 of the Internal Revenue Code is a subtraction. For the purposes of this subdivision, "principal residence" means a property that qualifies for the exclusion from gross income under section 121 of the Internal Revenue Code. new text end new text begin EFFECTIVE DATE. new text end new text begin This section is effective for taxable years beginning after December 31, 2025. new text end