This bill amends Minnesota Statutes to provide a subtraction for income earned by certain family child care providers. Specifically, it adds a new subdivision to section 290.0132, which states that income earned by family child care providers for work licensed under chapter 142B and Minnesota Rules, chapter 9502, will be considered a subtraction for tax purposes. This provision is effective for taxable years beginning after December 31, 2024.

Additionally, the bill amends section 290.091, subdivision 2, to update the definitions related to alternative minimum taxable income. Notably, it includes an insertion that expands the list of subtractions from federal taxable or adjusted gross income to include the new subdivision 36 from section 290.0132. This amendment is also effective for taxable years beginning after December 31, 2024.

Statutes affected:
Introduction: 290.0132, 290.091