Internal Revenue Code conformed to the federal exclusion from gross income for employer student loan payments.

Summary

The bill amends Minnesota’s definition of the Internal Revenue Code to include the federal provision that excludes employer contributions toward employee student loans from gross income. It applies to any employee who receives a loan‑payment benefit from their employer, making that benefit non‑taxable under state law. The change takes effect the day after the law is finalized, with any federal updates applied retroactively.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share