This bill amends Minnesota Statutes 2024, section 290.0132, subdivision 16, to establish a subtraction from individual income tax for certain AmeriCorps stipends and living allowances. The new legal language specifies that the following amounts are eligible for subtraction: stipends paid to AmeriCorps volunteers, living allowances for National Civilian Community Corps volunteers, stipends for AmeriCorps Seniors volunteers, and awards for service in approved AmeriCorps National Service programs. The bill also removes the term "awards" from the previous language, clarifying that these amounts are now categorized as subtractions.

Additionally, the bill includes an effective date, stating that the new provisions will apply to taxable years beginning after December 31, 2025. This change aims to provide tax relief for individuals serving in AmeriCorps programs, thereby encouraging participation in national service initiatives.

Statutes affected:
Introduction: 290.0132