Plain English Breakdown
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HF4586 • 2026
Federal deduction for qualified overtime compensation adopted.
Federal deduction for qualified overtime compensation adopted.
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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2026-03-25
House
Authors added Backer and Schwartz
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2026-03-23
House
Introduction and first reading, referred to Taxes
Official Summary Text
Federal deduction for qualified overtime compensation adopted.
Current Bill Text
Read the full stored bill text
A bill for an act relating to taxation; individual income; adopting the federal deduction for qualified overtime compensation; 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 Overtime income. new text end new text begin (a) The amount of qualified overtime compensation allowed as a deduction under section 225 of the Internal Revenue Code is a subtraction. new text end new text begin (b) Notwithstanding section 225, paragraph (g), of the Internal Revenue Code, the subtraction under this subdivision is allowed for taxable years beginning after December 31, 2028. new text end new text begin EFFECTIVE DATE. new text end new text begin This section is effective retroactively for taxable years beginning after December 31, 2024. new text end