Dayton signs tax bill that will help thousands of Minnesotans
Gov. Mark Dayton signed legislation Saturday that's expected to provide tax relief for more than 200,000 Minnesotans.
The tax conformity bill, which had broad bipartisan support, passed early enough that it's not expected to disrupt taxpayers when it comes to filing their taxes.
Here's a look at who could be eligible for tax breaks this year:
- Students and families: More than 40,000 college students and their families paying for higher education tuition will see a tax break.
- Teachers: More than 60,000 teachers will be eligible for a tax deduction for the books, art supplies and other materials they purchase for their classrooms.
- Homeowners: More than 96,000 homeowners who pay mortgage insurance premiums for their residences will see a tax break.
In addition to tax breaks, the tax conformity law also clears up wording that would have held up state funding for the Destination Medical Center project in Rochester. The state plans to invest $455 million in the project over the next 20 years, Northland's NewsCenter reports.
