Federal tax conformity legislation (HF 6) will conform Minnesota’s tax law to recent federal changes, ease filing, and clarify financing for Rochester’s Destination Medical Center
ST. PAUL, MINNESOTA — Today, the Minnesota Senate unanimously passed the first legislation of the 2015 legislative session. The bill, HF 6, was passed by the Minnesota House last week and will conform Minnesota tax law to accommodate federal changes, ease filing for Minnesota residents, and clarify language related to the financing of Rochester’s Destination Medical Center (DMC). Governor Mark Dayton said he will sign the bill into law immediately because of the implications on 2015 tax filing for Minnesota residents and continued planning for the DMC.
Commonly known as “tax conformity”, the legislation makes necessary technical changes to Minnesota tax law that allow for increased federal deductions for items such as higher education tuition, mortgage insurance premiums, educator classroom expenses, charitable contributions, and more.
“Tax conformity is a routine procedure for the legislature,” said Rep. Jennifer Schultz (DFL-Duluth), who voted for the legislation. “Every year Minnesota tax law has to be changed to reflect changes made at the federal level. To ensure that Minnesota families are getting the tax return they’ve earned, we need to get these bills done in January so there’s no need for extra paperwork when filing a tax return.”
Rep. Schultz also took the opportunity to remind Duluth residents to see if they qualify for property tax refunds or renter’s credit refunds when they begin the income tax filing process.
“The DFL legislature expanded property tax refunds and qualifying rules for many individual homeowners and renters in the last two years,” said Rep. Schultz. “It’s easy to delay filing for your property tax refund because there isn’t always the same urgency, but I encourage you to do it right away if you qualify. If you have not looked to see if you qualify recently, I encourage you to take another look this year. It’s important that folks are getting the refund they deserve.”
Minnesota residents can go online to learn more about their 2014 property tax refund or renter’s credit refund at: http://www.revenue.state.mn.us/individuals/prop_tax_refund or they can call 651-296-3781 or 800-652-9094 from 8:00am-4:30pm Monday-Friday.
Rep. Schultz encourages community members to contact her on any legislative issue. She can be reached by email at Rep.Jennifer.Schultz@house.mn or phone at 651-296-2228.
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