This bill amends Minnesota Statutes 2024, specifically section 290A.04, to adjust the homestead credit refund program. The income threshold for claimants is increased from $135,410 to $146,340, and the statutory year for inflation adjustments is changed from 2023 to 2026. These changes will take effect for refunds based on property taxes payable in 2027.

Additionally, the bill authorizes the commissioner of revenue to implement a tax compliance program utilizing advanced tax analytics and business intelligence tools to enhance tax assessment and collection. The program will focus on corporations, high-income individual taxpayers, and businesses subject to sales and use tax laws. The bill appropriates $5 million for fiscal year 2026 and $15 million for fiscal year 2027 to support this initiative, which is expected to generate significant new revenue for the state. The effective date for these provisions is the day following final enactment.

Statutes affected:
Introduction: 290A.04