Susie Brown Testifies Before the House Tax Committee
The Minnesota Council of Nonprofit's policy director, Susie Brown, testified before the house tax committee on January 15, at the committee’s first hearing of the session. The tax committee looked at the question of conformity to federal tax law as one of their first objectives.
Since Minnesota’s tax law does not automatically conform to federal changes, the legislature must consider and approve changes. In the January 15 discussion, the committee were considering issues which were approved by Congress in the “fiscal cliff” deal in late December 2012, which affect income tax payers for tax year 2012.
Among the issues was the IRS rollover, which provides an important giving opportunity for some Minnesotans, including the opportunity to use the rollover contribution option in January 2013 and have it apply to tax year 2012.
Susie Brown testified that conforming to this section of federal tax law benefits both Minnesota taxpayers, who wish to give to charity using this mechanism, and the nonprofit organizations they support.
The committee considered two identical bills, House File 6 introduced by chair Representative Ann Lenczewski (DFL) and House File 63 introduced by the committee’s Republican Lead Representative Greg Davids. Both bills were laid over for further consideration.
More information on this tax committee meeting can be found at http://www.house.leg.state.mn.us/hinfo/sessiondaily.asp?storyid=3260.