1.1Senator Rest moved to amend the (SCH0991A29) amendment to
H.F. No. 991
1.2as follows:
1.3Page 1, before line 4, insert:
1.4"Page 4, delete section 2
1.5Page 11, line 4, delete "
EXCLUSION FROM GROSS INCOME FOR CERTAIN
1.6FORGIVEN PPP" and insert "
FEDERAL UPDATE; EXCLUDING CERTAIN ITEMS
1.7FROM GROSS INCOME."
1.8Page 11, delete line 5
1.9Page 11, line 14, delete everything after "
Adopting" and insert "
certain federal changes"
1.10Page 11, line 15, delete everything before the period
1.11Page 11, delete line 21
1.12Page 11, line 25, delete the period and insert a semicolon
1.13Page 11, after line 25, insert:
1.14"
(5) special rules for use of retirement funds under section 2202 of Public Law 116-136;
1.15(6) temporary waiver of required minimum distributions for certain retirement plans
and
1.16accounts under section 2203 of Public Law 116-136;
1.17(7) enhancement of the child and dependent care credit under section 9631 of Public
1.18Law 117-2;
1.19(8) increase in exclusion for employer-provided dependent care assistance under section
1.209632 of Public Law 117-2; and
1.21(9) temporary special rules for health and dependent care flexible spending arrangements
1.22under section 214 of the Taxpayer Certainty and Disaster Tax Relief Act of 2020 in
Public
1.23Law 116-260."
1.24Page 11, line 30, after "
(3)" insert "
and (5) to (9)"
1.25Page 12, after line 2, insert:
1.26 "Sec. 9.
WORKING FAMILY CREDIT; SPECIAL EARNED INCOME RULES
1.27FOR TAX YEAR 2020.
1.28For the purposes of calculating the credit under Minnesota Statutes, section 290.067,
1.29the commissioner of revenue must allow a taxpayer to elect to determine earned income
2.1using the rules in section 211 of the Taxpayer Certainty and Disaster Tax Relief Act
of 2020
2.2in Public Law 116-260.
2.3EFFECTIVE DATE.This section is effective for taxable years beginning after December
2.431, 2019, and before January 1, 2021.
2.5 Sec. 10.
TEMPORARY INDIVIDUAL INCOME TAX SUBTRACTION;
2.6UNEMPLOYMENT INSURANCE BENEFITS.
2.7(a) For the purposes of this section:
2.8(1) "subtraction" has the meaning given in Minnesota Statutes, section 290.0132; and
2.9(2) "unemployment compensation" has the meaning given in section 85(b) of the Internal
2.10Revenue Code.
2.11(b) For taxable years beginning after December 31, 2019, and before January 1, 2021,
2.12an individual taxpayer with adjusted gross income that is less than $150,000 is allowed
a
2.13subtraction equal to the amount of unemployment compensation received in the taxable
2.14year. The subtraction is limited to $10,200, except for a joint return the subtraction
is limited
2.15to $10,200 in unemployment compensation received by each spouse.
2.16EFFECTIVE DATE.This section is effective for taxable years beginning after December
2.1731, 2019, and before January 1, 2021.""
2.18The motion prevailed. #did not prevail. So the amendment was #not adopted.