1.1Senator Nelson moved to amend
H.F. No. 1141, as amended pursuant to Rule 45,
1.2adopted by the Senate May 6, 2026, as follows (...):
1.3(The text of the amended House File is identical to
S.F. No. 203.)
1.4Page 1, after line 22, insert:
1.5 "Section 1. Minnesota Statutes 2024, section 290.0683, subdivision 1, is amended to read:
1.6 Subdivision 1.
Definitions. (a) For purposes of this section, the following terms have
1.7the meanings given.
1.8(b) "Agency" means the Minnesota Housing Finance Agency.
1.9(c) "Greater Minnesota" means the area of Minnesota located outside of the metropolitan
1.10area.
1.11(d) "Metropolitan area" has the meaning given in section 473.121, subdivision 2.
1.12(c) (e) "Minnesota housing tax credit contribution account" or "account" means the
1.13account established in section
462A.40.
1.14(d) (f) "Qualified project" means a project that qualifies for a grant or loan under section
1.15462A.40.
1.16(e) (g) "Taxpayer" means a taxpayer as defined in section
290.01, subdivision 6, or a
1.17taxpayer as defined in section
297I.01, subdivision 16.
1.18EFFECTIVE DATE.This section is effective for taxable years beginning after December
1.1931, 2026.
1.20 Sec. 2. Minnesota Statutes 2024, section 290.0683, subdivision 3, is amended to read:
1.21 Subd. 3.
Allocation. (a) To qualify for the credit, a taxpayer must contribute to the
1.22Minnesota housing tax credit contribution account. A taxpayer may indicate that a
1.23contribution is intended for a specific qualified project
, subject to the limitations in paragraph
1.24(b). A taxpayer is prohibited from contributing to certain projects as provided in section
1.25462A.40, subdivision 3.
1.26(b) For each taxable year, the agency must reserve 50 percent of credits for contributions
1.27to qualified projects located in greater Minnesota. Any portion of a taxable year's
credits
1.28reserved for contributions to qualified projects located in greater Minnesota that
is not
1.29allocated by the agency by September 30 of each year is available for allocation to
credit
1.30applications for contributions to other qualified projects beginning on October 1.
2.1(b) (c) The aggregate amount of tax credits allowed to all eligible contributors is limited
2.2to $9,900,000 annually.
2.3(c) (d) Within 30 days after a taxpayer contributes to the account, the agency must file
2.4with the contributing taxpayer a credit certificate statement or return any amounts
to the
2.5taxpayer as provided in this paragraph. The agency must send a copy of the credit
certificate
2.6to the commissioner. If there are insufficient credits to match the contribution,
the agency
2.7must not issue a credit certificate for the amount of the contribution for which there
are
2.8insufficient credits, and must return that amount to the taxpayer before issuing any
credit
2.9certificate.
2.10(d) (e) The credit certificate must state the dollar amount of the contribution made by
2.11the taxpayer and the date the payment was received by the account, and indicate if
the
2.12contribution was intended for a specific qualified project.
2.13EFFECTIVE DATE.This section is effective for taxable years beginning after December
2.1431, 2026."
2.15Renumber the sections in sequence and correct the internal references
2.16Amend the title accordingly
2.17The motion prevailed. #did not prevail. So the amendment was #not adopted.