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HF 3754

Internal Revenue Code conformed to the federal exclusion from gross income for employer contributions to Trump accounts.

2025-2026 Regular Session Introduced by Keith Allen and 6 co-sponsors

Minnesota bill conforms state tax code to exclude employer contributions to Trump accounts from employee gross income, reducing state tax liability.

Authors added Allen and Van Binsbergen
#taxation-income
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WeVote Research Nonpartisan
Bill Summary · HF 3754

Legislative bill overview

HF 3754 proposes to conform Minnesota's Internal Revenue Code to federal law by excluding employer contributions to "Trump accounts" from gross income for tax purposes. This would create a state-level tax benefit mirroring a federal exclusion, allowing employers to contribute to these accounts without triggering state income tax liability for employees.

Why is this important

This bill directly affects state tax revenue and employee compensation structures. If passed, it would reduce Minnesota's tax base while potentially benefiting employees who have access to these accounts, creating a distinction between Minnesota and federal tax treatment that employers and employees would need to navigate.

Potential points of contention

  • Unclear account definition: The bill references "Trump accounts" without defining what qualifies, creating ambiguity about scope, eligibility, and administration
  • Revenue impact: Conforming to federal exclusions typically reduces state tax collections, which could affect public services or require offsetting revenue measures
  • Equity concerns: Tax benefits tied to specific account types may disproportionately benefit higher-income earners who have greater access to employer-sponsored benefits
  • Partisan branding: Naming provisions after political figures is unconventional in tax code and may signal controversial intent or broader policy disagreements

Compiled from official sources — confirm details with the bill’s official record.

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