ST. PAUL - ST. PAUL – The Minnesota House on Monday overwhelmingly passed legislation allowing state taxpayers to take advantage of numerous tax provisions already approved at the federal level.
State Representative Bjorn Olson (R-Fairmont) voted in favor of the bill.
“I was very pleased we had a proposal in front of us that will help taxpayers, and that all attempts to raise revenue in this bill were blocked in committee,” Olson said. “We have a long way to go, but to pass a clean tax conformity bill this early in session is a step in the right direction.”
Olson said federal conformity is needed in Minnesota to ease filing compliance burdens for residents and to help industries that were hardest hit from pandemic shutdowns – especially restaurant, hospitality, and entertainment industries.
Prior to the House floor vote, Olson said Minnesota House Republicans who sit on the House Taxes Committee prevented nearly $100 million in tax increases from being included in the conformity proposal.
Olson said at least seven federal bills have been passed into law since Minnesota last enacted legislation to match congressional changes. Tax year 2023 marks five years since our state tax code has been conformed, which is the longest the state has been out of conformity in decades.
With 132-0 passage in the House, the bill is now in the hands of the Senate and, pending that body’s approval, will be presented to the governor for enactment.