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HF4603 • 2026

Internal Revenue Code conformed to the federal exclusion from gross income for employer student loan payments.

Internal Revenue Code conformed to the federal exclusion from gross income for employer student loan payments.

Education Labor Taxes
Passed Legislature

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

Sponsor
Schwartz, Davids
Last action
2026-03-23
Official status
Introduction and first reading, referred to Taxes
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Internal Revenue Code conformed to the federal exclusion from gross income for employer student loan payments.

Internal Revenue Code conformed to the federal exclusion from gross income for employer student loan payments.

What This Bill Does

  • Internal Revenue Code conformed to the federal exclusion from gross income for employer student loan payments.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2026-03-23 House

    Introduction and first reading, referred to Taxes

Official Summary Text

Internal Revenue Code conformed to the federal exclusion from gross income for employer student loan payments.

Current Bill Text

Read the full stored bill text 
A bill for an act

relating to taxation; individual income; conforming to the federal exclusion from

gross income for employer student loan payments; 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 70412 of Public Law 119-21, the exclusion from gross

income for employer student loan payments
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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.

new text end

new text begin

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.

new text end