Minnesota lawmakers meet to discuss taxes as legislative session nears end

(St. Paul, MN) -- The Minnesota House Tax Committee is making the final adjustments to the state's 2024 tax bill.

Lawmakers and state officials say the legislation looks to adjust multiple pieces within the tax code to make it more friendly to families, especially ones with children. They point to several changes, one of which revolves around child tax credits available for this year's filing season. It would allow filers to advance payments on the credits, so individuals could stagger payments over a year-period. Additionally, families with 18-year-olds would also be able to qualify for the tax credit. The original cut-off was 17-years-old. 

Another group would also be able to advance credits. The Homestead credits for seniors would be able to be accessed and advanced, similarly to how families can advance their credits for year-long payments. The bill calls for the state to establish a free direct filing system for individual tax filers to file state taxes.

Additionally, it would change how local sales taxes could be implemented. The current method requires communities to speak to the legislature to gain the permission of lawmakers prior to putting the option on the ballot. With a proposed change in the bill, it would instead fall on the state auditor to make the final call on those ballot innitiaitves. 

The full bill was fully proposed on April 15th and has seen eight proposed amendments, which were defeated on party-line votes. State Tax Commissioner Paul Marquart said the bill this year is excellent, but did issue a warning for future years. The bill is expected to have further discussions today. 

You can watch the full meeting by clicking the video below.