Dear Neighbors,
We’re now finishing the 5th week of the legislative session, and almost half way done with this extremely short calendar. I wanted to share several updates with you below, including action that will benefit the Moose Lake Sanitary District in our region. You’ll also find updates on the student debt crisis, a property tax reminder with helpful links, and information on small business initiatives being worked on at the Capitol.
MOOSE LAKE SANITARY DISTRICT
Last week, a bill I authored impacting the Moose Lake Sanitary District was heard in the Government Operations & Election Policy Committee. You can read more about the bill in the Pine Journal by clicking here. The bipartisan bill passed onto the General Register, and I hope we’ll take it up on the House floor soon.
TACKLING OUR STUDENT DEBT CRISIS
Several bills to address crushing student debt were heard in the Higher Education committee recently. The average debt load of four year graduates in Minnesota is nearing $32,000 – the 5th highest debt burden in the nation. This debt burden can make it difficult for Minnesotans to buy a home or save for the future, limiting family budgets and overall economic growth.
Here are some of our ideas this session to reduce student debt. Many of them were heard this week and we are hopeful they will move forward this session:
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Freezing tuition at the U of M and MnSCU to keep college costs down
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Expand the state grant program to open access to more families
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Reduce cost of textbooks by requiring campus bookstores to compare and match prices
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Tax credits for student loan payments to reduce student loan debt
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Expand/improve state’s refinancing pilot program to make repayment more affordable
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Loan forgiveness (up to 3K annually) to those who commit to work in Greater Minnesota
Last year, despite a $2 billion surplus, the House Republican Majority voted for a budget that actually raised tuition on our student at the University of Minnesota and our four-year campuses. With a $900 million surplus this session, we really should make students a priority and finally tackle our student debt crisis.
NEXT GENERATION MAIN STREET ACT
Recently, House and Senate legislators joined small business owners at a press conference to push for passage of the “Next Generation Main Street Act,” an array of proposals designed to support small businesses across the state. Legislators worked with Minnesota small business owners to bring forward initiatives that will reduce costly audits, simplify tax filing for businesses, and make it easier for owners to transfer their businesses to a next generation owner.
The Next Generation Main Street Act key components include:
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Supporting Small Business Start-Ups & Entrepreneurs by making sure that every person that starts a small business in Minnesota is contacted and provided information about the resources available to them. In addition, legislators are working to assist business start-ups with gap financing through the Minnesota Initiative Foundations.
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Helping with Succession Planning by providing grants to Small Business Development Centers to provide transaction services to business owners and next generation, non-family proprietors to help them take over a business.
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Streamlining Audits by simplifying the process to reduce the amount of time and money small business owners must spend on costly audits in a number of ways.
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Simplifying Tax Filing for Small Businesses by enacting federal tax conformity so that Minnesota businesses can file taxes without delay and uncertainty in 2016.
Don’t Forget Your Property Tax Refund or Renter’s Credit
As a friendly reminder, don’t forget to file for your Renter’s Property Tax or Homestead Credit Refund. To see if you qualify, take a look at the Minnesota Department of Revenue’s Instruction Guide. The forms can be accessed here.
The Minnesota Department of Revenue also has information available on filing for free on their website. If you want to file yourself and wonder if you qualify for free electronic filing products or you want assistance from a free tax preparation site, visit this page.
Additionally, the IRS has free filing information available on their website. On the homepage of their website under the banner “Hot Topics” you will see a link entitled “Get Free Tax Preparation Help” or “Free File Tax Software”.
You can always reach me at 651-296-4308 or rep.mike.sundin@house.mn . I appreciate your questions and concerns!
Sincerely,
Mike Sundin
State Representative