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SF2766 (Legislative Session 94 (2025-2026))

Homestead credit refund co-pays reduction provision

Related bill: HF2475

AI Generated Summary

Purpose of the Bill

The purpose of the bill is to amend Minnesota's property tax refund system for homeowners. Specifically, it seeks to reduce the copay amounts required for the homestead credit refund, which is a type of property tax refund for residents.

Main Provisions

  • The bill adjusts the percentages of household income that define eligibility for receiving state refunds on property taxes.
  • It specifies new copay percentages that homeowners must pay before receiving the state refund. These percentages vary based on household income brackets.
  • The bill aligns the maximum state refund amounts that eligible claimants can receive with these new copay structures.

Significant Changes

  • The bill introduces a tiered structure where homeowners with different levels of household income will pay different percentages of their income as copay before qualifying for a state refund.
  • Income brackets have been specifically adjusted, affecting the percentage of income and maximum state refund amounts.
  • For lower and middle-income households, the amount they must pay before qualifying for the refund is being reduced.

Relevant Terms

homestead credit refund, property tax refund, household income, copay, state refund, income brackets

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 19, 2025SenateFloorActionIntroduction and first reading
March 19, 2025SenateFloorActionReferred toTaxes

Citations

 
[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill modifies the homeowners' homestead credit refund requirements under section 290A.04 subdivision 2.",
      "modified": [
        "Updates percentages of income and property tax payment responsibilities for different income brackets."
      ]
    },
    "citation": "290A.04",
    "subdivision": "subdivision 2"
  }
]

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