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SF1046 (Legislative Session 94 (2025-2026))

Transfer and certification provisions modification

Related bill: HF1697

AI Generated Summary

This bill aims to modify taxation related to certain types of railroads in Minnesota. Specifically, it addresses the issuance and transfer of credit certificates to railroads classified as Class II or Class III by the United States Surface Transportation Board. These railroads are eligible to receive credits for expenses related to maintaining, reconstructing, or replacing railroad infrastructure. The bill also defines terms such as "eligible taxpayer," "eligible transferee," and what constitutes qualified railroad expenditures. Additionally, it introduces provisions for transferring these credit certificates to other taxpayers under specific conditions.

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
February 05, 2025SenateFloorActionIntroduction and first reading
February 05, 2025HouseFloorActionIntroduction and first reading
February 05, 2025SenateFloorActionReferred toTaxes
February 05, 2025HouseFloorActionReferred toTaxes
February 19, 2025HouseFloorActionComm report: To pass and re-referred toTransportation
February 19, 2025SenateFloorActionComm report: To pass and re-referred toTransportation
March 12, 2025SenateFloorActionComm report: To pass and re-referred toTaxes

Citations

 
[
  {
    "analysis": {
      "added": [
        "Clarifies and adds definitions related to tax eligibility and credit certification."
      ],
      "removed": [
        ""
      ],
      "summary": "This bill modifies definitions under section 290.0695, subdivision 1, relating to taxation for individual income and corporate franchise.",
      "modified": [
        "Updates terms used in the eligibility criteria for tax credits."
      ]
    },
    "citation": "290.0695",
    "subdivision": "subdivision 1"
  }
]

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