The bill proposes a new tax credit for individual taxpayers in Minnesota who incur costs for the removal of trees infested by the emerald ash borer. It amends Minnesota Statutes 2022, section 290.06, by adding a new subdivision that allows taxpayers to claim a credit equal to fifty percent of the removal costs, with a maximum credit limit of $1,000. This credit is applicable only for trees that have been mandated for removal by state law or municipal ordinance due to infestation.

Additionally, the bill specifies that for nonresidents or part-year residents, the credit must be allocated based on a percentage calculation outlined in a previous subdivision of the same statute. The new provisions will take effect for taxable years beginning after December 31, 2023.

Statutes affected:
Introduction: 290.06