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State Representative Linda Slocum
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-7158
For more information contact: Joan Nichols 651-29X-XXXX
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Slocum Supports Bill That Offers $25 Million in Tax Relief
State Rep. Linda Slocum
Minnesota House of Representatives Contact: Joan Nichols
District 65B (651) 296-7158 (651) 296-4545
523 State Office Building, St. Paul, MN 55155 Joan.Nichols@house.mn
ST. PAUL – State Representative Linda Slocum, District 63B, voted for a bill (House File 8) that will give Minnesota taxpayers more than $25 million in tax relief. The bill conforms Minnesota tax code to take advantage of recent federal changes that will serve to benefit families, teachers and military personal. Slocum considers this bill to be a timely piece of legislation that required quick and immediate attention for Minnesotans to realize benefits during the current school term.
"As a teacher and a legislator I applaud the merits of a bill that will put money back in the pockets of teachers and families with students as well as support military members. By coming together quickly and decisively, legislative leaders and the Governor are providing Minnesotans with a meaningful tax relief for 2006," Slocum said.
Provisions in the Federal Tax Conformity Bill extend current deductions:
· Deduction for qualified tuition and related expenses. Low- and middle-income taxpayers can deduct up to $4,000 of higher education tuition and related expenses. It is an extension of a provision that Minnesota already adopted for previous years. In 2004, over 111,000 Minnesota returns claimed this deduction.
· Deduction for classroom teacher expenses. A $250 above-the-line deduction for K-12 educators of the amount paid for classroom supplies and books. Again, this is a deduction Minnesota adopted for prior years. In 2004, over 53,000 Minnesota returns claimed this deduction.
· Heroes Earned Retirement Opportunities Act. Tax-exempt combat pay can be used as a basis for making IRA contributions. Without this provision, members of the military (including the National Guard) who are deployed to combat zones and have little earned income other than their combat pay will be required to track earnings on their IRAs separately for state and federal purposes.
Questions or inquiries about these deductions should be directed to the Minnesota Department of Revenue (www.taxes.state.mn.us/) by phone: (651) 296- 3781 or E-mail: indinctax@state.mn.us.
Rep. Slocum can be contacted at (651) 296-7158, by mail at 523 State Office Building, 100 Martin Luther King Blvd., St. Paul, MN 55155 or via e-mail at rep.Linda.Slocum@house.mn.
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