SF2508 (Legislative Session 94 (2025-2026))
Income threshold increase for the child tax credit
Related bill: HF2339
AI Generated Summary
This bill proposes an amendment to Minnesota's tax law, specifically increasing the income threshold for the phaseout of the child tax credit. The phaseout threshold would rise from $35,000 to $45,490 for married taxpayers filing jointly and from $29,500 to $38,340 for all other filers. This change effectively allows more families to qualify for the full child tax credit by raising the income level at which the credit begins to decrease. The bill has been introduced in the Minnesota Senate and referred to the Taxes Committee for further consideration.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| March 12, 2025 | House | Floor | Action | Introduction and first reading | |
| March 12, 2025 | Senate | Floor | Action | Introduction and first reading | |
| March 12, 2025 | House | Floor | Action | Referred to | Taxes |
| March 12, 2025 | Senate | Floor | Action | Referred to | Taxes |
Citations
[
{
"analysis": {
"added": [],
"removed": [],
"summary": "The bill amends the phaseout threshold for the child tax credit under section 290.0661.",
"modified": [
"The phaseout threshold for a married taxpayer filing a joint return is increased from $35,000 to $45,490.",
"The phaseout threshold for all other filers is increased from $29,500 to $38,340."
]
},
"citation": "290.0661",
"subdivision": "subdivision 4"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "This bill refers to changes associated with section 290.0671 regarding tax credits.",
"modified": [
"The credits under section 290.0671 are subject to a new phaseout aligned with section 290.0661."
]
},
"citation": "290.0671",
"subdivision": ""
}
]