Greetings,
As we head into the Passover/Easter break, there is still no movement from the House majority on relieving businesses from unnecessary tax increases.
STILL WORKING TO ELIMINATE UNNECESSARY TAX ON LOCAL JOB PROVIDERS
You’ll recall the unemployment insurance (UI) tax increase came about after Governor Walz required businesses in Minnesota to close, causing unprecedented use of the unemployment insurance fund. This led to a $1 billion deficit in the program and the need for a loan from the federal government.
The default method to pay back this debt is tax increases of 15% or more on local employers. Because the House Democratic majority refused to address this problem, that job provider tax increase has now taken effect. Minnesota is also spending between $50,000 and $70,000 per day in interest on the federal loan we are paying back due to this unemployment insurance debt.
Recently, House Republicans attempted to declare an urgency on this topic and address it on the House floor. While many central Minnesota representatives supported this measure, Assistant House Majority Leader Dan Wolgamott voted against bringing the proposal forward and providing tax relief to local job providers.
Remember, Senate Republicans and Democrats, House Republicans, and Governor Walz and his administration are all on board with eliminating this tax increase. House Democrats continue to oppose it.
TAX TIME INFORMATION
As we are days away from being required to file our income tax returns, I thought I’d also share with you a pair of tax programs in the State of Minnesota that could put more money in your pocketbook.
ARE YOU ELIGIBLE FOR TARGETING PROPERTY TAX REFUND?
The Additional Property tax program, commonly referred to as the “targeting” refund, allows an “additional” property tax refund for homeowners if their property taxes increased more than 12 percent from the prior year and the increase is more than $100. The refund is 60 percent of any increase over either 12 percent or $100 – whichever is greater. The maximum refund is $1,000.
Please check your property tax statements to see if you are eligible! More information on how to file can be found here (bottom of page 2): https://www.house.leg.state.mn.us/hrd/pubs/ss/sstrgt.pdf
DO YOU OR YOUR FAMILY MEMBERS HAVE UNCLAIMED PROPERTY?
Each year, the Minnesota Department of Commerce receives millions of dollars in unclaimed property from businesses and organizations that have lost contact with the owners. The Department is responsible for safeguarding the funds or property until claimed by the rightful owners or heirs. This includes dormant bank accounts, uncashed checks, insurance claim payments, and more.
To date, nearly $625 million has been returned to Minnesotans and the heirs thanks to this program.
Visit https://minnesota.findyourunclaimedproperty.com/, type in your last name, and see if you have an unexpected windfall to collect!
THIRD COMMITTEE DEADLINE IS HERE
Back at the Capitol, a busy week is concluding in St. Paul, as Friday marks the third and final committee deadline in the Minnesota Legislature. The third deadline is the date when committees must act favorably on major appropriation and finance bills. State budgets were set last session, but with a budget surplus of more than $9 billion, the House majority is seeking to increase spending across most areas of state government again this year.
Worth noting: these deadlines do not apply to taxes or capital investment plans. The legislature must complete its work by May 23.
HAPPY PASSOVER/EASTER!
The legislature’s scheduled Passover/Easter break begins Saturday and lasts until April 18. I wish you all a happy and healthy holiday!
KEEP IN TOUCH
As always I'm continuing to support constituent needs. Feel free to contact me anytime at rep.tim.odriscoll@house.mn or by phone at 651-296-7808.
Be well,
Tim