1.1.................... moves to amend H.F. No. 3170, the delete-everything amendment
1.2(A14-0123) as follows:
1.3Page 63, after line 13, insert:

1.4    "Sec. 5. Minnesota Statutes 2012, section 289A.02, subdivision 7, as amended by Laws
1.52014, chapter 150, article 1, section 7, is amended to read:
1.6    Subd. 7. Internal Revenue Code. Unless specifically defined otherwise, "Internal
1.7Revenue Code" means the Internal Revenue Code of 1986, as amended through December
1.820, 2013 March 26, 2014.
1.9EFFECTIVE DATE.This section is effective retroactively for taxable years
1.10beginning after December 31, 2012.

1.11    Sec. 6. Minnesota Statutes 2013 Supplement, section 290.01, subdivision 19, as
1.12amended by Laws 2014, chapter 150, article 1, section 9, is amended to read:
1.13    Subd. 19. Net income. The term "net income" means the federal taxable income,
1.14as defined in section 63 of the Internal Revenue Code of 1986, as amended through the
1.15date named in this subdivision, incorporating the federal effective dates of changes to the
1.16Internal Revenue Code and any elections made by the taxpayer in accordance with the
1.17Internal Revenue Code in determining federal taxable income for federal income tax
1.18purposes, and with the modifications provided in subdivisions 19a to 19f.
1.19    In the case of a regulated investment company or a fund thereof, as defined in section
1.20851(a) or 851(g) of the Internal Revenue Code, federal taxable income means investment
1.21company taxable income as defined in section 852(b)(2) of the Internal Revenue Code,
1.22except that:
1.23    (1) the exclusion of net capital gain provided in section 852(b)(2)(A) of the Internal
1.24Revenue Code does not apply;
1.25    (2) the deduction for dividends paid under section 852(b)(2)(D) of the Internal
1.26Revenue Code must be applied by allowing a deduction for capital gain dividends and
2.1exempt-interest dividends as defined in sections 852(b)(3)(C) and 852(b)(5) of the Internal
2.2Revenue Code; and
2.3    (3) the deduction for dividends paid must also be applied in the amount of any
2.4undistributed capital gains which the regulated investment company elects to have treated
2.5as provided in section 852(b)(3)(D) of the Internal Revenue Code.
2.6    The net income of a real estate investment trust as defined and limited by section
2.7856(a), (b), and (c) of the Internal Revenue Code means the real estate investment trust
2.8taxable income as defined in section 857(b)(2) of the Internal Revenue Code.
2.9    The net income of a designated settlement fund as defined in section 468B(d) of
2.10the Internal Revenue Code means the gross income as defined in section 468B(b) of the
2.11Internal Revenue Code.
2.12    The Internal Revenue Code of 1986, as amended through December 20, 2013 March
2.1326, 2014, shall be in effect for taxable years beginning after December 31, 1996.
2.14    Except as otherwise provided, references to the Internal Revenue Code in
2.15subdivisions 19 to 19f mean the code in effect for purposes of determining net income for
2.16the applicable year.
2.17EFFECTIVE DATE.This section is effective the day following final enactment,
2.18except the changes incorporated by federal changes are effective retroactively at the same
2.19time as the changes were effective for federal purposes."
2.20Page 66, after line 23, insert:

2.21    "Sec. 8. Minnesota Statutes 2013 Supplement, section 290.01, subdivision 31, as
2.22amended by Laws 2014, chapter 150, article 1, section 13, is amended to read:
2.23    Subd. 31. Internal Revenue Code. Unless specifically defined otherwise, "Internal
2.24Revenue Code" means the Internal Revenue Code of 1986, as amended through December
2.2520, 2013 March 26, 2014. Internal Revenue Code also includes any uncodified provision
2.26in federal law that relates to provisions of the Internal Revenue Code that are incorporated
2.27into Minnesota law. When used in this chapter, the reference to "subtitle A, chapter 1,
2.28subchapter N, part 1, of the Internal Revenue Code" is to the Internal Revenue Code as
2.29amended through March 18, 2010.
2.30EFFECTIVE DATE.This section is effective the day following final enactment,
2.31except the changes incorporated by federal changes are effective retroactively at the same
2.32time as the changes were effective for federal purposes."
2.33Page 68, after line 16, insert:

2.34    "Sec. 11. Minnesota Statutes 2013 Supplement, section 290A.03, subdivision 15, as
2.35amended by Laws 2014, chapter 150, article 1, section 22, is amended to read:
3.1    Subd. 15. Internal Revenue Code. "Internal Revenue Code" means the Internal
3.2Revenue Code of 1986, as amended through December 20, 2013 March 26, 2014.
3.3EFFECTIVE DATE.This section is effective retroactively for property tax refunds
3.4based on property taxes payable after December 31, 2013, and rent paid after December
3.531, 2012."
3.6Page 68, line 26, strike "March 1" and insert "March 26"
3.7Renumber the sections in sequence and correct the internal references
3.8Amend the title accordingly