For more information contact: Matt Privratsky 651-296-6860
Dear Neighbors and Friends,
Today, the House wrapped up the 2013-2014 Legislative Session early for the first time in over a decade after passing our supplemental budget and the second tax bill off the House floor. We also passed a package of capital investment projects early this morning. Those projects will put people to work in the short term and preserve our community assets in the long term. It’s a win-win for Minnesota.
The passing of these key bills mark the end of a very productive biennium. When we came to the Capitol in January of 2013, Minnesota faced a $600 million budget deficit and still owed schools over $800 million. After passing a balanced budget last year, lawmakers returned to the Capitol in 2014 with a $1.2 billion budget surplus and an agenda focused on cutting taxing and growing Minnesota’s economy.
Tax Bill 2
The first tax bill signed into law this session by Governor Dayton made reduction to middle-class income taxes, largely through federal tax conformity. This second tax bill will cut taxes by $103 million largely through further property tax relief, bringing the total tax cuts to $550 million for this session. Tax Bill 2 includes $45 million in targeted property tax relief to Minnesota homeowners, renters, and farmers.
· Homeowners: Each and every homeowner receiving a refund will see a 3% increase in 2014. The average homeowner will see a refund of $837 for 2014. This comes on top of the $133 million in direct property tax relief passed in 2013 for homeowners and renters.
· Renters: Each and every renter receiving a refund will see a 6% increase in 2014. The average renter will see a refund of $643.This comes on top of the $133 million in direct property tax relief passed in 2013 for homeowners and renters.
Source: Non-partisan House Research
In addition to property tax relief, the tax bill includes targeted income and sales tax relief:
The Supplemental Budget bill makes critical investments in long term care givers, expanded broadband internet access, and Greater Minnesota workforce development.
Last year, the Legislature provided a rate increase for nursing home workers for the first time in years. The Supplemental Budget will provide a similar 5 percent increase for home and community based long term care workers this year.
Some key provisions in the Supplemental Budget include:
These final bills come after a session filled with significant accomplishments, including:
If you have any questions about the work we’ve done this session, please don’t hesitate to contact me. It has been such a privilege to be a part of this Legislature, and I look forward to visiting with you throughout the summer about the things we’ve done at the Capitol.
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