SF1936 (Legislative Session 94 (2025-2026))
Additional tax enactment on certain corporations with high principal executive officer to median worker pay ratios
Related bill: HF1041
AI Generated Summary
This Minnesota Senate bill (S.F. No. 1936) proposes changes to corporate taxation and state grant eligibility. It introduces an additional corporate franchise tax on companies where the pay ratio between the principal executive officer and the median worker is high. Furthermore, corporations subject to this additional tax would be disqualified from receiving state grants and subsidies. The bill amends Minnesota Statutes 2024, specifically sections 16B.981 and 290.06, to enforce these provisions.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 26, 2025 | House | Floor | Action | Introduction and first reading | |
| February 26, 2025 | Senate | Floor | Action | Introduction and first reading | |
| February 26, 2025 | House | Floor | Action | Referred to | Taxes |
| February 26, 2025 | Senate | Floor | Action | Referred to | Taxes |
Citations
[
{
"analysis": {
"added": [],
"removed": [],
"summary": "This section pertains to amending tax obligations and state grant eligibility for certain corporations, focusing on those with specific pay ratios.",
"modified": [
"Imposes an additional tax on corporations with high executive to worker pay ratios."
]
},
"citation": "290.06",
"subdivision": "subdivision 1"
}
]