HF100

HF100 (Legislative Session 94 (2025-2026))

Unlimited Social Security individual income tax subtraction allowed.

Related bill: SF235

AI Generated Summary

This bill focuses on changing how Social Security benefits are taxed in Minnesota. It proposes allowing taxpayers to subtract their Social Security benefits from their taxable income, with the option to choose either a simplified subtraction method or an alternate method based on other calculations.

The simplified method gives a subtraction based on the amount of Social Security benefits received but reduces this subtraction if a taxpayer's income exceeds certain limits. These limits vary depending on the taxpayer's filing status, such as whether they are married, single, or a head of household.

The alternate subtraction method also calculates a subtraction based on Social Security benefits, but this too is affected by the taxpayer's income, with specific formulae reducing the subtraction depending on how much the taxpayer earns above certain thresholds.

The bill also includes provisions to adjust these income thresholds annually based on changes in economic conditions, ensuring the amounts remain relevant over time. The specific amounts and rules vary depending on the taxpayer’s filing status and income, aiming to provide some tax relief especially to those with lower incomes.

Bill text versions

Introduction PDF file
1st Engrossment PDF file

Actions

Date	Chamber	Where	Type	Name	Committee Name
February 09, 2025	House	Floor	Action	Introduction and first reading, referred to	Taxes
February 09, 2025	House	Floor	Action	Introduction and first reading, referred to	Taxes
February 12, 2025	House	Floor	Action	Author added
February 16, 2025	House	Floor	Action	Committee report, to adopt as amended and re-refer to	Ways and Means
February 16, 2025	House	Floor	Action	Author added
February 18, 2025	House	Floor	Action	Authors added
February 19, 2025	House	Floor	Action	Author added
March 02, 2025	House	Floor	Action	Author added
March 23, 2025	House	Floor	Action	Author added

Citations

[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill modifies the provisions for Social Security benefits subtraction under section 290.0132, subdivision 26.",
      "modified": [
        "Adjusts the method and thresholds for subtracting Social Security benefits from taxable income."
      ]
    },
    "citation": "290.0132",
    "subdivision": "subdivision 26"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This citation explains the definition of modified adjusted gross income in the context of Social Security benefits.",
      "modified": [
        "Clarifies references to adjusted gross income calculations for taxable benefits."
      ]
    },
    "citation": "86(b)(2) of the Internal Revenue Code",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This citation defines Social Security benefits for the purpose of taxation under state law.",
      "modified": [
        "Ensures state references align with the federal definition of Social Security benefits."
      ]
    },
    "citation": "86(d)(1) of the Internal Revenue Code",
    "subdivision": ""
  }
]