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Senate Counsel, Research
and Fiscal Analysis
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Minnesota Senate Bldg.
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95 University Avenue W. Suite 3300
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St. Paul, MN 55155
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(651) 296-4791
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Alexis C. Stangl
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Director
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Senate
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State of Minnesota
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S.F. No. 416 - Increase in K-12 Credit, Phaseout Amount, and Income Threshold
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Author:
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Senator Carla J. Nelson
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Prepared By:
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Nora Pollock, Senate Counsel (651/297-8066)
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Date:
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February 28, 2017
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Section
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Provision
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1
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Increases the maximum amount of the K-12 credit from $1,000 to $1,500 and increases the income threshold at which the credit begins to phase out from $33,500 to $50,000. Also increases the phaseout rate from $4 to $10 for every $1 of income over the threshold amount.
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2
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Provides for an inflation adjustment for the $50,000 income threshold in section 1.
The bill is effective beginning in tax year 2017.
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Check on the status of this bill
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Back to Senate Counsel and Research Bill Summaries page
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This page is maintained by the Office of Senate Counsel, Research, and Fiscal Analysis for the Minnesota Senate.
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Last review or update: 02/28/2017
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