taxes

As part of the Minnesota House of Representatives’ Mini-Session, the House Taxes Committee and the House Taxes Committee — Property and Local Tax Division will hold combined informational hearings on Thursday, October 3, in Winona and Caledonia. The Winona hearing is set for 9 a.m. to 10:30 a.m. at Winona City Hall…

Source: Minnesota House of Representatives Research Department The Minnesota House of Representatives Research Department updated its “Income Tax Deductions and Credits for Public and Nonpublic Education in Minnesota” publication in late June. Minnesota has had an income tax credit for public and nonpublic education-related expenses since 1998 and a dependent…

The Minnesota Department of Education (MDE) has produced two important documents for school districts this month. See www.mnmsba.org/Portals/0/Spreadsheets/SchoolDistrictRuns-2018-2019.xlsx for a listing of general education revenue projections for each school district for fiscal years 2018 and 2019. Also, visit www.mnmsba.org/Portals/0/Spreadsheets/SchoolBuildingBondAgCredit-2017.xlsx for school building bond agriculture credit estimates for each school district. These…

Gov. Mark Dayton rolled out his 2017 tax plan Thursday during a press conference in St. Paul, offering $300 million in tax cuts. One part of Gov. Dayton’s plan is to provide property-tax relief for Minnesota farmers. Gov. Dayton is proposing a tax credit worth $34 million for owners of…

Source: Session Daily By Lee Ann Schutz The first of this session’s major spending bills was passed off the House Floor 123-10 early Sunday afternoon. First passed off the floor last year with a $2 billion price tag, the omnibus tax bill, now on its way to the Senate, proposes…

The Minnesota Senate approved the Omnibus Tax Bill (HF 3931) Wednesday on a 37-30 vote. All Republican senators and two Democrats voted against the bill, citing the burden it would place on struggling workers and businesses. Here are the two education-related policy sections in the bill: 1. Student loan credit. Authorizes…

Is it the Tax Bill or the Education Bill? This is a rhetorical question, but it does raise some questions about how we are spending the surplus money. Tax credits and deductions always sound like a great idea until you realize the state has to “buy” them. This is real…

The House Education Finance Committee and the House Property Tax and Local Government Finance Division Committee held an informational hearing April 9 to discuss a proposal (HF 2077, sponsored by Rep. Steve Drazkowski) on agricultural property tax credit for school capital levies. HF 2077 would provide a property tax credit on all…

Everyone in the room empathized with the farm families that testified in support of HF 596 as they outlined the circumstances agriculture landowners find themselves in — yet no one knows how to fix it. Agriculture land values are rising, crop prices are stagnant and more rural schools need to…

In the House … Gov. Mark Dayton’s education budget bill (HF 844) received its first hearing Wednesday in the House Education Finance Committee. Minnesota Education Commissioner Brenda Cassellius provided an overview of the Gov. Dayton’s vision for targeted education investment choices in early education and strategies to close the achievement gap. This legislation…

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