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