Minnesota’s Special Session Still Going
St Paul, MN (KROC AM News) - It was an allnighter for Minnesota’s state lawmakers and they’re still going at it, trying to pass the bills that were not acted on before the regular session ended at midnight Monday.
Some major budget bills and a bonding package were among those waiting for final votes.
There were meetings through early Wednesday and the House just resumed its floor session a short while ago. It has already passed a $650 million tax bill.
Under the agreement with Gov Dayton, the special session he called was to end at 7 this morning. Dayton did agree to extend the session, if necessary.
Here is a summary of the tax bill, courtesy of the Minnesota House Republican Caucus:
$117 million in relief for Minnesota’s senior citizens. Under this bill, nearly 284,000 senior citizen tax returns (single and married filing jointly) would receive tax reductions; 72,000 of those would no longer pay state income tax on their benefits.
Nearly $55 million to address college affordability through a first-in-the-nation tax credit for student loan payments, along with $20 million in subtractions and credits for families saving for college using 529 Savings Plans.
$34 million in relief for farmers by reducing the burden farmers and agriculture land owners pay for school bond referendums. Approximately 240,000 farmers could receive property tax relief to reduce their disproportionate share of school district debt service.
$36 million for families with young children by modifying the child and dependent care credit.
$95 million in relief for hometown businesses by exempting the first $100,000 in property value from the extra tax on businesses and freezing its automatic inflator.
$15 million each year for Local Government Aid and $25.5 million per year for County Program Aid.