This bill proposes extensive amendments to Minnesota's tax laws, focusing on various areas including individual income and corporate franchise taxes, sales and use taxes, property taxes, and more. Key provisions include the repeal of taxes on illegal cannabis and controlled substances, adjustments to the political contribution refund process, and the introduction of new tax credits and exemptions for agricultural assets. The bill also aims to enhance local government aid, modify tax increment financing provisions, and implement new reporting requirements. Specific amendments include new definitions for agricultural assets and beginning farmers, changes to eligibility criteria for tax credits, and modifications to data privacy regulations concerning political contributions.

Additionally, the bill introduces a tax filing modernization account, appropriating $5 million from the general fund for fiscal year 2024 to improve the state’s tax filing process. It establishes provisions for the distribution of assigned individual income tax refunds for educational expenses and outlines penalties for non-compliance with cannabis taxation. The bill also includes various effective dates for its provisions, with some set to take effect in 2024, 2025, and beyond, ensuring a phased implementation of the changes. Overall, the legislation aims to streamline tax processes, enhance transparency, and provide targeted financial relief to specific sectors and demographics within Minnesota.

Statutes affected:
Introduction: 41A.30, 270C.445, 290.068, 290.0695, 270.075, 272.02, 273.19, 273.38, 273.41, 477A.19, 297A.61, 297A.62, 297A.65, 297F.25, 289A.60, 290.0693, 290A.19, 290C.07, 295.81, 477A.32
1st Engrossment: 10A.02, 10A.322, 41B.0391, 116U.27, 270C.445, 289A.08, 290.0132, 290.033, 290.06, 290.0674, 290.0681, 290.0686, 290.0693, 290.0695, 290.091, 290.095, 290.92, 290A.03, 272.01, 272.02, 273.117, 273.124, 273.128, 273.13, 273.1392, 273.1393, 273.19, 273.38, 273.41, 275.065, 276.04, 279.37, 449.08, 469.171, 469.1731, 469.1812, 469.1813, 289A.20, 289A.60, 295.54, 297A.68, 297A.70, 297A.99, 297A.9915, 297A.9925, 126C.13, 126C.17, 477A.011, 477A.013, 477A.03, 477A.23, 477A.30, 469.176, 373.40, 446A.086, 462C.04, 469.104, 469.154, 474A.091, 475.521, 641.23, 41A.30, 270B.161, 272.03, 273.12, 289A.02, 289A.12, 289A.19, 290.0133, 290.0134, 290.0135, 290.09, 290.05, 290.20, 290.923, 297A.71, 298.001, 298.01, 298.015, 298.016, 298.018, 298.17, 3.192, 3.8855, 8.31, 14.03, 16A.151, 37.31, 270C.07, 270C.08, 270C.085, 270C.11, 289A.51, 290A.19, 290C.07, 295.81, 299C.76, 473.756, 473.757, 473.759, 609.902, 477A.32, 13.4967, 289A.31, 290.01, 297A.75, 297A.94, 297A.995, 297I.20
2nd Engrossment: 10A.02, 10A.322, 41B.0391, 270C.445, 289A.08, 290.0132, 290.033, 290.06, 290.0674, 290.0681, 290.0686, 290.0693, 290.0695, 290.091, 290.095, 290.92, 290A.03, 272.01, 272.02, 273.117, 273.124, 273.128, 273.13, 273.1392, 273.1393, 273.19, 273.38, 273.41, 275.065, 276.04, 279.37, 449.08, 469.171, 469.1731, 469.1812, 469.1813, 289A.20, 289A.60, 295.54, 297A.68, 297A.70, 297A.99, 297A.9915, 297A.9925, 126C.13, 126C.17, 477A.011, 477A.013, 477A.03, 477A.23, 477A.30, 469.176, 373.40, 446A.086, 462C.04, 469.104, 469.154, 474A.091, 475.521, 641.23, 41A.30, 270B.161, 272.03, 273.12, 289A.02, 289A.12, 289A.19, 290.0133, 290.0134, 290.0135, 290.09, 290.05, 290.20, 290.923, 297A.71, 298.001, 298.01, 298.015, 298.016, 298.018, 298.17, 3.192, 3.8855, 8.31, 14.03, 16A.151, 37.31, 270C.07, 270C.08, 270C.085, 270C.11, 289A.51, 290A.19, 290C.07, 295.81, 299C.76, 473.756, 473.757, 473.759, 609.902, 477A.32, 13.4967, 116U.27, 289A.31, 290.01, 297A.75, 297A.94, 297A.995, 297I.20