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SF937 (Legislative Session 94 (2025-2026))

Rates reduction and corresponding changes enactment to brackets for the combined net receipts tax

Related bill: HF172

AI Generated Summary

This bill is about changing the way taxes are calculated on the money made from charitable gambling activities in Minnesota. The main points are:

  1. It proposes new, lower tax rates on the money groups earn from gambling activities after paying out prizes.
  2. It introduces different tax brackets, each with a new tax rate, for different amounts of net receipts an organization receives in a fiscal year.
  3. The bill specifies the exact percentages and tax amounts for each bracket.
  4. Additionally, it makes sports-themed tipboards exempt from these taxes. A tipboard is a type of gambling where winners are determined by the outcome of a sports game.

The goal is to reduce the tax rates and adjust the tax brackets accordingly, which could potentially help charitable organizations retain more from their gambling proceeds.

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
February 02, 2025HouseFloorActionIntroduction and first reading
February 02, 2025SenateFloorActionIntroduction and first reading
February 02, 2025HouseFloorActionReferred toTaxes
February 02, 2025SenateFloorActionReferred toTaxes

Citations

 
[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill modifies the tax rates for charitable gambling under section 297E.02, subdivision 6.",
      "modified": [
        "Reduces tax rates for different brackets of combined net receipts."
      ]
    },
    "citation": "297E.02",
    "subdivision": "subdivision 6"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill refers to the definition of sportsthemed tipboards as per section 349.12, subdivision 34.",
      "modified": []
    },
    "citation": "349.12",
    "subdivision": "subdivision 34"
  }
]

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