SF1936 (Legislative Session 94 (2025-2026))
Additional tax enactment on certain corporations with high principal executive officer to median worker pay ratios
Related bill: HF1041
AI Generated Summary
This bill proposes an additional corporate franchise tax on companies where the pay ratio between the principal executive officer and the median worker is high. It also disqualifies certain companies subject to this tax from receiving state subsidies and grants. Specifically, it amends Minnesota Statutes to include a new provision stating that corporations paying the additional tax will be ineligible for state grants. Additionally, state agencies may require further information to determine eligibility.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 26, 2025 | Senate | Floor | Action | Introduction and first reading | |
| February 26, 2025 | Senate | Floor | Action | Referred to | Taxes |
Citations
[
{
"analysis": {
"added": [
"A new provision disqualifying certain corporations from receiving state grants is linked to this tax modification."
],
"removed": [],
"summary": "This bill refers to modifying the corporate franchise tax under section 290.06.",
"modified": [
"Alters taxation for corporations based on pay ratio metrics."
]
},
"citation": "290.06"
}
]