The bill, H.F. No. 2221, introduced in the Minnesota House of Representatives, relates to taxation and proposes a tax credit for local advertising expenses for both individual income and corporate franchise taxes. It amends Minnesota Statutes, section 290, by adding provisions that allow taxpayers to claim a credit for qualifying local media advertising expenses. Specifically, it modifies section 290.0131 to include advertising expenses as an addition to taxable income for purposes of claiming the tax credit (under a newly proposed section 290.0696).

Essentially, this bill incentivizes businesses and individuals to invest in local advertising by offering a tax credit, thereby promoting economic support for local media.