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SF211 (Legislative Session 94 (2025-2026))

Foreign service pension taxable income subtraction

Related bill: HF1632

AI Generated Summary

This bill proposes an amendment to Minnesota's taxation laws specific to how income from foreign service pensions is treated. Essentially, individuals receiving a pension or retirement pay for their service in the foreign service, which is established under a specific U.S. law, would be able to subtract this income from their state taxable income. The amount of the subtraction is calculated by multiplying the pension received by the ratio of years served in the foreign service to the total years served in civil service. This means that the more years an individual served in foreign service, the greater the subtraction from their state taxable income, which could lead to a lower tax burden.

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
January 15, 2025SenateFloorActionIntroduction and first reading
January 15, 2025SenateFloorActionReferred toTaxes

Citations

 
[
  {
    "analysis": {
      "added": [
        "Provides a subtraction for foreign service pension income tied to federal government service."
      ],
      "removed": [],
      "summary": "This bill proposes amendments related to individual income taxes.",
      "modified": [
        "Adjusts the calculation method for foreign service pension subtraction based on years of service."
      ]
    },
    "citation": "290.091 subd. 2"
  }
]

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