This Minnesota House bill (H.F. No. 2504030), authored by Representative Gomez, proposes changes to multiple tax-related provisions. The key areas covered in the bill include:

1. Income and Corporate Taxes: Modifications to individual income and corporate franchise tax regulations, including disclosure requirements and electronic direct free filing for tax returns.
2. Tax Credits: Adjustments to the political contribution refund, beginning farmer credit, child tax credit, and housing credit.
3. Debt Forgiveness: Exemptions for discharged coerced debt from income calculations.
4. Property Taxes and Homestead Credits: Changes to property tax exemptions, classifications, and implementation of an advance homestead credit for seniors.
5. Local Government Funding: Modifications to local government aid rules, including penalty forgiveness and changes to tax increment financing provisions.
6. Sales and Special Taxes:
   • Exemptions for certain construction materials.
   • Repeal of the tax on illegal cannabis and controlled substances.
   • Introduction of an amusement device gross receipts tax.
   • Adjustments to lodging taxes.
7. Worker Classification Rules: Changes to labor classification regulations for tax purposes.
8. Land Bank and Land-Value Taxation: Provisions for establishing land-value taxation districts and land bank organizations.
9. Gambling Revenue Regulations: Modified rules on the use of gambling-generated funds.
10. Administrative and Reporting Requirements: Additional financial assistance mechanisms for local governments and mandated reporting on various tax-related provisions.

The bill also repeals several outdated tax statutes and makes various amendments to Minnesota tax laws.