1.1 	A bill for an act
1.2 	relating to taxation; individual income; doubling the dependent exemption;
1.3 	amending Minnesota Statutes 2022, section 290.0121, subdivisions 1, 3.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. Minnesota Statutes 2022, section 290.0121, subdivision 1, is amended to read:
1.6 		Subdivision 1.Exemption amount. (a) A taxpayer's dependent exemption equals:
1.7 	(1) the exemption amount multiplied by the number of individuals who are dependents, 
1.8 	as defined in sections 151 and 152 of the Internal Revenue Code, of the taxpayer for the 
1.9 	taxable year; minus
1.10 	(2) the disallowed exemption amount under subdivision 2, but the remainder may not 
1.11 	be less than zero.
1.12 	(b) The exemption amount equals $4,250 $9,600.

1.13 	EFFECTIVE DATE. This section is effective for taxable years beginning after December 
1.14 	31, 2022.

1.15 	Sec. 2. Minnesota Statutes 2022, section 290.0121, subdivision 3, is amended to read:
1.16 		Subd. 3.Inflation adjustment. For taxable years beginning after December 31, 2019, 
1.17 	the commissioner must adjust for inflation the exemption amount in subdivision 1, paragraph 
1.18 	(b), and the threshold amounts in subdivision 2, as provided in section 270C.22. The statutory 
1.19 	year is taxable year 2019 2023. The amounts as adjusted must be rounded down to the 
1.20 	nearest $50 amount. The threshold amount for married individuals filing separate returns 
1.21 	must be one-half of the adjusted amount for married individuals filing joint returns.

2.1 	EFFECTIVE DATE. This section is effective for taxable years beginning after December 
2.2 	31, 2022.