SF1332 (Legislative Session 94 (2025-2026))
Subtraction provision for overtime pay
Related bill: HF1365
AI Generated Summary
Senate Bill S.F. No. 1332 proposes a change to Minnesota's tax legislation by allowing individuals to subtract their overtime pay from their taxable income. Specifically, the bill aims to amend the current tax statute, Minnesota Statutes 2024 section 290.0132, by introducing a new rule. This rule defines overtime pay as the wages, salaries, tips, and other compensation employees earn for working hours beyond the standard workweek limits defined by state and federal laws. The bill, if passed, would mean that taxpayers in Minnesota do not have to pay state income tax on the income they earn from overtime work.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 12, 2025 | Senate | Floor | Action | Introduction and first reading | |
| February 12, 2025 | Senate | Floor | Action | Referred to | Taxes |
Citations
[
{
"analysis": {
"added": [
"Incorporates definition of overtime pay based on federal standards."
],
"removed": [],
"summary": "The bill references existing federal law to define 'overtime pay' as used in the new subtraction for individual income tax purposes.",
"modified": []
},
"citation": "United States Code Title 29, Section 207"
}
]