ST. PAUL – The Minnesota House of Representatives has taken the first step towards providing tens of thousands of Minnesotans with $21.7 million in tax relief by approving a tax conformity proposal. State Representative Jason Rarick (R-Pine City) supported the measure.
“Very simply, this is a plan that gives Minnesotans a chance to keep more of what they earn,” Rarick said.
Early each session, lawmakers examine changes made to the federal tax codes, and to make it easier on taxpayers they design a package of bills that will bring Minnesota in to compliance with those new federal provisions.
This year's bill will provide the teachers’ classroom expense deduction and higher education expense deduction, and will eliminate the need for two sets of depreciation schedules for those who purchase work equipment.