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HF 1000

Unlimited Social Security individual income tax subtraction provided.

2025-2026 Regular Session Introduced by Paul Anderson and 7 co-sponsors

HF 1000 - Unlimited Social Security individual income tax subtraction provided OverviewBill Number: HF 1000 Title: Unlimited Social Security individual income tax subtraction prov

Author added Knudsen
#taxation-income
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Bill Summary · HF 1000

HF 1000 - Unlimited Social Security individual income tax subtraction provided

Overview

Bill Number: HF 1000
Title: Unlimited Social Security individual income tax subtraction provided
Status: Author added Knudsen
Introduced: April 10, 2025

Purpose and Intent

The primary goal of HF 1000 is to provide Minnesota residents with an unlimited individual income tax subtraction for their Social Security benefits. This legislation aims to reduce the tax burden on retirees and seniors who rely on Social Security as a significant source of their income.

Key Provisions

  • Allows Minnesota taxpayers to subtract the full amount of their Social Security benefits from their taxable income for state individual income tax purposes.
  • Removes the current $4,500 cap on the Social Security income tax subtraction.
  • Applies the unlimited subtraction retroactively to the 2025 tax year and all subsequent tax years.
  • Requires the Minnesota Department of Revenue to update tax forms and instructions to reflect the new unlimited Social Security income tax subtraction.

Affected Parties and Impacts

  • This bill would directly benefit Minnesota residents who receive Social Security benefits, particularly retirees and seniors.
  • By eliminating the tax on Social Security income, it would increase the disposable income and purchasing power of affected taxpayers.
  • The unlimited subtraction could make Minnesota a more attractive state for retirees and seniors, potentially leading to increased migration and economic activity.
  • The state government may experience a reduction in individual income tax revenue due to the expanded Social Security income tax subtraction.

Procedural and Timeline Considerations

HF 1000 was introduced in the Minnesota House of Representatives on April 10, 2025. It has been assigned to the House Taxes Committee for consideration. If passed by the committee and the full House, the bill would then move to the Minnesota Senate for further review and potential passage. If enacted, the unlimited Social Security income tax subtraction would be effective retroactively for the 2025 tax year and all subsequent tax years.

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

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