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
- Introduction PDF file
Past committee meetings
- Taxes on: February 19, 2025 09:00
- Transportation on: March 10, 2025 15:00
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 06, 2025 | Senate | Floor | Action | Introduction and first reading | |
| February 06, 2025 | Senate | Floor | Action | Referred to | Taxes |
| February 20, 2025 | Senate | Floor | Action | Comm report: To pass and re-referred to | Transportation |
| March 13, 2025 | Senate | Floor | Action | Comm report: To pass and re-referred to | Taxes |
| Senate | Note | Action | See |
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"
}
]Progress through the legislative process
In Committee