KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

Back to Minnesota

SF4622 • 2026

Federal exclusion conformation from gross income for employer contributions to Trump accounts

Federal exclusion conformation from gross income for employer contributions to Trump accounts

Labor
Passed Legislature

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

Sponsor
Green
Last action
2026-03-23
Official status
Introduction and first reading
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.

Federal exclusion conformation from gross income for employer contributions to Trump accounts

Federal exclusion conformation from gross income for employer contributions to Trump accounts

What This Bill Does

  • Federal exclusion conformation from gross income for employer contributions to Trump accounts

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

Official Summary Text

Federal exclusion conformation from gross income for employer contributions to Trump accounts

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 contributions to Trump accounts; 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
new text begin
, except it also includes section 70204 of Public Law 119-21, the exclusion from gross

income for employer contributions to Trump accounts
new text end
. 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.

new text begin

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