SF1194 (Legislative Session 94 (2025-2026))
Credit provision for certain instructional expenses
AI Generated Summary
The bill, S.F. No. 1194, proposes a new tax credit for Minnesota residents related to certain educational expenses. If passed, this legislation would provide a tax credit to taxpayers for each qualifying child—defined as a child who is in kindergarten through grade 12, meets certain federal tax requirements, and receives education from a Minnesota school that is not a public school, as of January 1 of the taxable year. The amount of the tax credit would be based on a formula allowance linked to the school fiscal year beginning July 1 of the taxable year. In simple terms, this bill aims to give a financial benefit to Minnesota taxpayers who have children in non-public schools, reducing the amount they owe in state income taxes.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 09, 2025 | Senate | Floor | Action | Introduction and first reading | |
| February 09, 2025 | Senate | Floor | Action | Referred to | Taxes |
Citations
[
{
"analysis": {
"added": [
"Utilizes the existing formula allowance to calculate a new tax credit."
],
"removed": [],
"summary": "This bill references section 126C.10 to define 'credit allowance' in relation to the school instruction tax credit.",
"modified": []
},
"citation": "126C.10"
},
{
"analysis": {
"added": [
"Incorporates instruction requirements consistent with existing statute for the credit eligibility."
],
"removed": [],
"summary": "Section 120A.22 is referenced for instructional criteria related to the school instruction tax credit.",
"modified": []
},
"citation": "120A.22"
},
{
"analysis": {
"added": [
"Refers to existing classifications of schools for credit purposes."
],
"removed": [],
"summary": "Section 120A.05 is used to define eligible schools other than public schools for the tax credit.",
"modified": []
},
"citation": "120A.05"
}
]