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Department of Revenue presents updated tax expenditure budget, highlights new analyses and timing change
Summary
The Minnesota Department of Revenue presented the 2024 tax expenditure budget to the Senate Taxes Committee, summarizing more than 325 tax expenditures, new incidence analyses for major items, a revenue‑neutral metric, and timing changes intended to align the report with the biennial budget cycle.
The Minnesota Department of Revenue on Wednesday presented the tax expenditure budget that estimates the value of more than 325 statutory tax provisions for fiscal years 2024 through 2027.
The report, delivered by Eric Ouellette, director of tax research at the Department of Revenue, projects the cost or revenue effect of more than 300 tax expenditures across 16 state and local tax types and includes new features directed by law change since the last report.
The tax expenditure budget catalogs statutory provisions that reduce revenue by granting selective tax relief, Ouellette told the Senate Taxes Committee. "Tax expenditures are statutory provisions which reduce the amount of revenue that otherwise would be generated by a tax, by granting special and selective tax relief to a subset of taxpayers," he said.
Why it matters: tax expenditures operate outside the biennial budget process and can grow without explicit annual…
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